FIT Sponsorship
MEDIA, JOBS & RESOURCES FOR THE COMMON GOOD
NEWS  |  Finance, Philanthropy

World’s Richest Philanthropic Funds


Thursday, 30th July 2015 at 11:38 am
Xavier Smerdon, Journalist
Australia is notably absent from a list of the world’s top 10 ultra-wealthy philanthropists, despite 2014 being declared as a year of the “mega gifts”, with the largest donations made in the nation’s history.

Thursday, 30th July 2015
at 11:38 am
Xavier Smerdon, Journalist


0 Comments


FREE SOCIAL
SECTOR NEWS

 Print
World’s Richest Philanthropic Funds
Thursday, 30th July 2015 at 11:38 am

Australia is notably absent from a list of the world’s top 10 ultra-wealthy philanthropists, despite 2014 being declared as a year of the “mega gifts”, with the largest donations made in the nation’s history.

International wealth intelligence authority, Wealth-X, has released the list of largest private foundations established by living ultra-high net worth (UHNW) individuals, defined as those with more than US$30 million in assets.

 
Philanthropists Warren Buffet, Melinda Gates and Bill Gates.

The Bill & Melinda Gates Foundation came out on top, with total assets of US$43.4 billion. The Foundation accounts for more than half of the combined assets of the 10 charitable foundations on the list.

The Li Ka Shing Foundation, founded in 1980 by Hong Kong business magnate Li Ka-Shing, ranks second on the list with US$8.1 billion in assets. Li refers to his philanthropic foundation as his “third son” as he has pledged one third of his assets to it.

Based in Hong Kong, it is one of only four foundations outside of the US to make the top 10, along with Sir Chris Hohn’s Children’s Investment Fund Management in the United Kingdom, the Sulaiman Bin Abdul-Aziz Al Rajhi Endowments in Saudi Arabia and the Carlos Slim Foundation in Mexico.

Collectively, the foundations on the list have total assets of US$83.1 billion – equivalent to 29.7 per cent of combined net worth of the UHNW individuals who established them.

 
   Philanthropist Li Ka-Shing

In terms of overall country donations, not broken down by individual donors, the UK, Canada, Mexico, and Hong Kong follow the US, according to Wealth-X.While none of Australia’s 1,734 UHNW individuals, according to the 2014 Wealth Report by Knight Frank, made the list, there has been a rise in “mega-gifts” over the past few years.

Healthcare and media entrepreneur Paul Ramsay left his AUD$3 billion fortune – the largest single charitable donation ever in Australia – to his personal foundation, and Westpac gave $100 million – the largest corporate gift ever in Australia – to set up a private education scholarship, the Westpac Bicentennial Foundation.

A list of the top 15 known Australian philanthropic gifts of last year totalled more than AUD$3.41 billion, with a AUD$200 million pledge from billionaire businessman James Packer to set up a philanthropic foundation joining Paul Ramsay’s and Westpac’s donations in the top three.


Xavier Smerdon  |  Journalist |  @XavierSmerdon

Xavier Smerdon is a journalist specialising in the Not for Profit sector. He writes breaking and investigative news articles.

FEATURED SUPPLIERS


Brennan IT helps not-for-profit (NFP) organisations drive gr...

Brennan IT

NGO Recruitment is Australia’s not-for-profit sector recru...

NGO Recruitment

Helping the helpers fund their mission…...

FrontStream Pty Ltd (FrontStream AsiaPacific)

Yes we’re lawyers, but we do a lot more....

Moores

More Suppliers

Get more stories like this

FREE SOCIAL
SECTOR NEWS

YOU MAY ALSO LIKE

Australian Philanthropists Urged to Conserve the Country’s Natural Wonders

Luke Michael

Tuesday, 16th January 2018 at 4:28 pm

Predictions for 2018: Philanthropy

Krystian Seibert

Tuesday, 9th January 2018 at 8:33 am

Government Right to Dump ‘In Australia’ Legislation

Krystian Seibert

Tuesday, 19th December 2017 at 8:41 am

Why We Need Philanthropy Champions

Alan Schwartz

Tuesday, 5th December 2017 at 8:12 am

POPULAR

$110M Package Tackles Anxiety and Depression Among Young Australians

Wendy Williams

Tuesday, 9th January 2018 at 8:46 am

Social Enterprise Announces $500,000 Funding for Social and Affordable Housing

Luke Michael

Monday, 15th January 2018 at 11:26 am

Privatisation Poses New Challenges for NFPs Managing Their Workforce

Luke Michael

Tuesday, 9th January 2018 at 4:36 pm

White Ribbon Australia CEO Announces Retirement

Wendy Williams

Wednesday, 10th January 2018 at 5:15 pm

Write a Reply or Comment

Your email address will not be published. Required fields are marked *


FIT Sponsorship
pba inverse logo
Subscribe Twitter Facebook

Get the social sector's most essential news coverage. Delivered free to your inbox every Tuesday and Thursday morning.

You have Successfully Subscribed!