Neither Bill Gates nor Warrant buffet can defeat Tata’s in Philanthropist list.
Tata Group’s founder Jamsetji Tata crowned at the top position in World’s Top Philanthropist list for a century. Jamsetji Nusserwanji Tata, Indian Pioneer of Industrialist and the late founder of the Tata Group has dominated the number 1 position in the “EdelGive Hurun Philanthropists of the Century” (source), leaving behind giant philanthropists like Bill Gates and Warren Buffet. So in today’s blog, we are going to know about the Philanthropist list published by Hurun.
The Tata’s factor of Philanthropist
The report prepared by Hurun Report and EdelGive Foundation states that Tata Group’s total donations hook around $102.4 billion in the century. The sectors of Philanthropist have been concentrated in sectors like education and healthcare.
The Tata Group is the only company from India that has climbed the top 10 positions. As well the other Indian that made it to the list is Azim Premji, the founder-chairman of Wipro Ltd. He is ranked at 12 with a philanthropist worth $22 billion as per a list of “Top-50 Givers” by Hurun.
“The total philanthropic worth of Jamsetji is made up to 66% from Tata Sons,” EdelGive Hurun said in a media statement. “He set up the JN Tata Endowment in 1892 for higher education, which was the start of Tata Trusts.”
“Even as American and European philanthropists may have conquered the thinking of philanthropy over the last century, Jamsetji Tata, founder of India’s Tata Group, is the world’s biggest philanthropist,”Rupert Hoogewerf, the chairman and chief researcher at Hurun, told reporters.
The report presented by Hurun Report and EdelGive Foundation states that rankings were done on the basis of Total Philanthropic Value. The Total Philanthropic Value is calculated as the value of the assets adjusted for inflation, together with the sum of gifts or distributions to date.
The toppers are Jamsetji Tata with a donation of US$102 Billion, and then come Bill Gates who has donated US$ 74.6 billion. Warren Buffet donated US$ 37.4 billion, George Soros (US$ 34.8 billion) and John D Rockefeller (US$ 26.8 billion), and so on from the list.
The total donations by Top-50 givers are hooked at US$ 832 billion over the last century, of which US$ 503 billion came from foundation endowments and US$ 329 billion from donations to date.
The Philanthropist list also featured 39 individuals from United Stated, 5 from United Kingdom, 3 from China and 1 each from Portugal & Switzerland.
These individuals’ donations amounted to $832 billion, of which US$ 503 billion are in foundations today and US$ 329 billion have been disbursed in the last century.
“It is surprising that world’s richest person Jeff Bezos and Elon Musk havn’t made any cut in this Philanthropist list. The stories of the world’s biggest philanthropists of the last century tell the story of modern philanthropy.
“Today’s new billionaires are not giving to philanthropy. They are making money much faster than they are giving it away,”Rupert Hoogewerf said in a report.
Other foundations also made huge donations to fight the unprecedented health and economic crisis in COVID-19. The Hurun report also recognized donations made by philanthropists and private foundations toward Covid-19. Tata Trusts led by Ratan Tata donated $270 million, while Premji donated $135 million.
The only Indian after JN Tata who has made it to the list is Azim Premji, the founder-chairman of Wipro Ltd. He is ranked at 12 with a philanthropist worth of US $22 billion.
Azim Premji was the first Indian to sign Bill & Melinda Gates and Buffett’s initiative the ‘Giving Pledge’ in the year 2010. The initiative was to make the world’s wealthiest individuals and families consign a majority of their wealth to philanthropic causes.
Since then, Azim Premji has transferred 67% of Wipro’s economic ownership to the Azim Premji Endowment Fund.
So that’s all about the Philanthropist list by Hurun. If you love the post make sure to share it with your friend.
We will catch you in the next one till then take care of you and your family.