Jamsetji Tata tops global philanthropy list
Bombay: WITH total donations of $ 102.4 billion, India’s Jamsetji Tata topped the 2021 Edelgive Hurun Philanthropists Of The Century, which was released on Wednesday. The list shows a ranking of the most generous individuals in the world of the last century.
With an estimated total donation value of $ 102.4 billion, Mumbai-based Jamsetji Tata (1839-1904) was the world’s greatest philanthropist of the last century. Tata’s total philanthropic value is 66% of Tata Sons, estimated at $ 100 billion, based solely on the value of listed entities.
Tata made his fortune in the 1870s after establishing the Central India Spinning Weaving and Manufacturing Company and establishing the JN Tata Foundation in 1892 for higher education, which marked the beginning of Tata Trusts. Jawaharlal Nehru, India’s first Prime Minister, has often referred to it as the “One Planning Commission”.
Anas Rahman Junaid, MD and Chief Researcher, Hurun India, said: “It’s a proud moment to see an Indian lead the EdelGive Hurun 2021 philanthropist of the century. The 50 most generous people in the world in the last century came from five countries, largely dominated by the United States with 39, followed by 5 from the United Kingdom, 3 from China, 2 from India and 1 from Portugal and from Switzerland.
Their donations totaled $ 832 billion, of which $ 503 billion went to foundations today and $ 329 billion was disbursed in the last century.
Vidya Shah, Executive Chairman of the EdelGive Foundation, said: “The report sets a narrative, showing the path the philanthropic sector took to get here / to this point, and charts the path it could possibly take to go from there. the front.
Rupert Hoogewerf, chairman and chief researcher of Hurun Report, said: “While American and European philanthropists may have dominated philanthropy thinking over the past century, Jamsetji Tata, founder of the Indian group Tata, is the greatest philanthropist in the world.
Azim Premji was the first Indian to sign the Giving Pledge in 2010 and since then Premji has transferred 67% of Wipro to the Azim Premji endowment fund. Established in 2001, the Azim Premji Foundation supports the primary education system in rural public schools in India and is valued at $ 21 billion. The Azim Premji Foundation and Wipro have donated $ 150 million to fight Covid-19, according to the report.
Three individuals added more than $ 50 billion in a single year, led by Elon Musk with $ 151 billion, thanks to the rise of electric cars, while e-commerce billionaires Jeff Bezos of Amazon and Colin Huang de Pinduoduo each added $ 50 billion. At this rate, expect to see fifty or more cross the $ 100 billion mark over the next five years, he added.
How many billionaires are there in the world? Well, there are probably 7,500 billionaires in the world today, 1,000 more than last year.
There are 696 billionaires in the United States, for example, which suggests that the actual number should be at least double, perhaps up to 1,500. In China, we have found over 1,000, but the actual number is probably closer to 2,500.
“Bill & Melinda Gates” are among the most respected names in modern philanthropy. With total donations of $ 74.6 billion, Bill Gates and Melinda French Gates are the second of the EdelGive Hurun 2021 Century Philanthropists. Their total philanthropic value is the sum of the current endowment of the foundation’s value at 49.8 billion. of dollars and their cumulative donations of $ 24.8 billion.
The couple created the Bill & Melinda Gates Foundation in 2010 with a focus on public health, education and climate change, the same year they started with Warren Buffett the ‘Giving Pledge’, an encouraging movement billionaires donate the majority of their wealth to charity. In 2021, there were 220 contributors from 25 countries. Despite the recent announcement of their divorce, the couple will remain co-chairs and trustees of the Bill and Melinda Gates Foundation without “changing” their roles or the organization.
With donations totaling $ 56.7 billion, Henry Wellcome (1853-1936) of the UK is the 3rd largest philanthropist of the century EdelGive Hurun 2021. Wellcome, who made his initial fortune in pharmaceuticals at the end of the 1800s, established the Wellcome Trust upon his death in 1936, to support health care causes. In 1995, the Wellcome Trust sold Wellcome Plc to GlaxoSmithKline and became a financially independent trust.
The donations are the sum of the current value of the Wellcome Trust endowment ($ 38.4 billion) and the cumulative donations to date of $ 18.3 billion. Film mogul Howard Hughes (1905-1976) held 4th place in the EdelGive Hurun Philanthropists of the Century 2021. Hughes established the Howard Hughes Medical Institute in 1953 to support biomedical research. In 1985, the Howard Hughes Medical Institute sold the Hughes Aircraft Company for $ 5.2 billion, becoming the richest philanthropic foundation surpassing the Ford Foundation.