The biggest givers on the Forbes400
In May, private equity tycoon Robert F. Smith pledged an estimated $30 million to wipe out the student debt of the entire 2019 graduating class of Morehouse College.This has been a year of record-setting in billionaire philanthropy. In September, Stewart and Lynda Resnick, owners of POM Wonderful and Fiji Water, pledged $750 million to the California Institute of Technology for environmental sustainability research.
This year, Warren Buffett led the list of top givers with $38.8 billion in lifetime giving, which is 32% of his net worth, and earned the top score of 5. He was followed by last year’s biggest giver, Bill Gates, who has donated $38.5 billion so far. Two people who scored a 5 last year—Paul Allen and David Koch—passed away. Billionaires like DreamWorks Pictures founder David Geffen and WhatsApp cofounder Brian Acton moved up to the top score after each scored a 4 last year.
Private equity tycoon Robert F. Smith’s pledge in May to wipe out the student debt of the entire 2019 graduating class of Morehouse College generated lots of headlines but did not end up changing his score because the gift wasn’t big enough to move him up a notch. In many cases, fortunes grew faster than lifetime philanthropic giving. reporters looked at tax filings for charitable foundations, annual statements, SEC filings and news about new gifts.
Our score is based on total lifetime giving and what percent of their fortune members had given away. We weighted these two factors equally. Some individuals were then bumped up or down based on several other factors, including whether they had signed the Giving Pledge, whether they had pledged significant donations, how personally involved they were in their charitable giving, and how quickly and effectively their private foundations distributed dollars.
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