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HomeMarketAmerica’s Top 25 Billionaires Gave $27 Billion in 2022, Outpacing Previous Years

America’s Top 25 Billionaires Gave $27 Billion in 2022, Outpacing Previous Years

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The top 25 richest Americans gave US$27 billion to charitable causes in 2022, outpacing the previous two years despite a slumping stock market that sent many fortunes back.

The wealthiest 25 persons in the U.S. had donated US$196 billion over their lifetime by the end of last year, compared to US$169 billion a year ago, according to a Forbes’ report published Monday. The US$27 billion jump outpaced the US$20 billion annual gain in the two previous years and doubled what the top 25 gave in 2018.

The top 25 richest Americans gave more even as their combined wealth declined 15% year over year to US$936 billion by the end of 2022, Forbes said.

Warren Buffett,
the richest person in the U.S. with a net worth of US$106 billion, donated more than US$5.4 billion last year, boosting his lifetime giving to US$51.5 billion, the largest sum among U.S.’s most generous donors.

Bill Gates
and
Melinda French Gates,
through their foundation, have given away US$38.4 billion over their lifetime, adding more than US$5 billion in 2022. Bill Gates ranked the second richest person in the U.S. with a net worth of US$102 billion. Melinda was estimated to be worth US$6.6 billion on her own.

Occupying the third place on the list of lifetime giving was George Soros. Soros, who did not sign the Giving Pledge, an initiative launched by Buffett and Gates to encourage the world’s richest people to donate more than half of wealth during their lifetime or after they pass, has given away US$18.4 billion, including more than US$300 million in 2022. He has donated more than two-thirds of his fortune, with his current net worth estimated at US$6.7 billion, according to Forbes.

READ MORE: MacKenzie Scott’s Unrestricted Gifts Transform the Organizations That Receive Them, Study Finds

MacKenzie Scott, who began focusing on philanthropy after divorcing
Jeff Bezos
in 2019, has given a total of US$14.43 billion in the short period of time, landing her the fourth place on the list of most generous Americans. She donated US$5.82 million in 2022, the largest sum among the top 25 richest people.

The richest and most generous Americans in 2022 include
Michael Bloomberg,
who has given away US$14.4 billion over his lifetime; Mark Zuckerberg and Priscilla Chan, who have contributed US$3.9 billion to charities so far; and Bezos, with total donations of US$2.79 billion.

The complete list also includes Charles Feeney; Gordon and Betty Moore; Jim and Marilyn Simons; Phil and Penny Knight; Edythe Broad and family; Steve and Connie Ballmer; Sergey Brin; Lynn and Stacy Schusterman; Michael and
Susan Dell
; T.
Denny Sanford
; Donald Bren; Dustin Moskovitz and Cari Tuna; Pierre and Pam Omidyar; Charles Koch; George Kaiser; Laura and John Arnold; Ken Griffin; and Ted Turner.

Brin and Griffin were new to the list, replacing Julian Robertson Jr., who died in August 2022, and Leonard Lauder, who fell short, according to Forbes.

The list did not consider non U.S. citizens or large families like the Waltons, controlling shareholders of Walmart. The donations were based on the payouts by their foundations, not gifted made to them.

Credit: marketwatch.com

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