Uncovering their fortunes required us to pore over thousands of Securities and Exchange Commission documents, court records, probate records and news articles. Billionaires (2023) #369. George Bishop founded oil and gas producer GeoSouthern Energy in 1981. In August 2021, Caltech revealed that Bren had donated $100 million to the school in 2013 for its Space-based Solar Power Project, which is working to develop technology to generate solar power in space and beam it back to Earth. Comparing Forbes 400 Lists From 1982 and 2019 Shows How Differently These are the 25 local names on Forbes' billionaires list Additionally, Melinda has done some giving via her investment and incubation company, Pivotal Ventures. The score ranged from 1 to 5, with 5 being the most philanthropic.. With no foundation to distribute the grants, no website and no mailing address, her no-strings-attached donations often leave recipients in disbelief. Besides wealth, we also ranked each member based on their generosity and the degree to which their fortunes are self-made or inherited. The Forbes 400's new methodology was inspired by Global Citizen's 'Give While You Live' campaign. please try again later. The average Forbes self-made score for 92 of the pledgers scored by Forbes is 7.8 on a scale from 1 to 10 (Kroll 2018 ). }; Bren is the richest real estate baron in the U.S., with a property empire concentrated in Southern California. Then, in December, Scott published a Medium post mentioning that shed made another round of giftsbut provided no details on who got the grants or how much she doled out. We reached out to every list member for feedback. For a full explanation of each self-made score, please go to www.forbes.com/self-made-score. Our estimates are a snapshot of each members wealth as of September 3, 2021; we used closing stock prices and currency exchange rates from that day. The funds, as usual, went to The Bill and Melinda Gates Foundationwhere they are being put to work on poverty and healthcare initiatives, including research and vaccines for Covid-19plus to foundations set up by his late wife and three children. ContentList, Who got this score: Warren Buffett, George Soros, Gordon Moore, Julian Robertson Jr., Amos Hostetter Jr., Lynn Schusterman, John Arnold and T.DennySanford. Mark Zuckerberg, co-founder and CEO of Facebook, along with Charles Koch, CEO of Koch Industries, received a score of 2. Two fresh faces have joined the top philanthropist ranks since last year: Facebook cofounder Dustin Moskovitz and his wife Cari Tuna, and Scotts ex-husband, Jeff Bezos, who has taken to philanthropyannouncing $1 billion in gifts in 2021since stepping down as Amazons CEO in July. ); In some instances, Forbes explains, billionaires have been bumped up or brought down based on other factors like personal involvement in their charitable giving. You can check out our Privacy Policy to see how we safeguard and use the information you provide us with. In September, a Los Angeles Times report revealed that B. Wayne Hughes, cofounder of self-storage behemoth Public Storage, had anonymously donated about $400 million to the University of Southern California in his lifetime. To calculate the scores, we added the value of each persons total out-the-door lifetime giving to their 2021 Forbes 400 net worth and divided their lifetime giving by that number. The organization has given more than $200 million to bankroll research on the disease, including to fund trials in 19 countries. Source of Wealth Hair products, tequila, Self Made. We weighted these two factors equally and scored people accordingly. Hughes, who scored a 2 last year, jumped up to a 4. Forbes released its 41 st annual Forbes 400 list of the wealthiest Americans late last month. The richest people in America arent all that generous. After all, Forbes can only measure what it can see. This year's philanthropy scores were lower across the board than in 2020, with eleven billionaires scoring 4 for their lifetime giving of between 10 percent and 19.99 percent of their wealth including MacKenzie Scott ($58.5 billion; #15), Michael R. Bloomberg ($70 billion; #10), and Melinda French Gates ($6.3 billion; #158) down from Candid gets you the information you need to do good. The total number of men participating is 210, compared to 141 women. (not available). (Editors Note: Elon Musk was erroneously included as 1 when Forbes first published the list; In 2015 Musk, who signed the Giving Pledge, gave 1.2 million Tesla shares worth $254 million to his foundation). In current iterations, Forbes includes the person's net worth, a philanthropy. Those receiving a philanthropic score of 4 (meaning they have given between 10 percent and 19.99 percent of their wealth) include Bill and Melinda Gates ($111 billion, #2), former New York City mayor and Bloomberg Philanthropies founder Michael R. Bloomberg ($55 billion, #14), Home Depot co-founder Bernard Marcus and his wife, Billi ($7.4 8 Men Own as Much as the Poorest 3.6 Billion People on the Planet. Since July 2020, she has given just under $8.6 billion to nearly 800 organizations. We once again counted only out-the-door giving, rather than cash sitting in billionaires private foundations or tax-advantaged donor-advised funds that have not yet made it to those in need. In May 2021, the Washington residents announced $38 million of new grants over five years to address the states mental health crisis. These tax advantaged accounts have neither disclosure nor distribution requirements; so while the list members may use their donations to get tax deductions, their dollars may not reach nonprofit beneficiaries for years. (Not to be outdone, Ronald donated his collection of European arms and armour to the Met in 2020. US President Donald Trump also received a 1, along with the media mogul Rupert Murdoch. And as the company that made them billionaires ventures further into the cloud, the Ballmers have pledged at least $59 million to help nonprofits and public sector social service organizations do the same by 2023. Self-Made Score 8. The richest person on the list is Jeff Bezos, with an estimated net worth of $114. Simons' foundation has also supported life science research, giving to the New York Genome Center, and autism research through donations to the Autism Research Initiative. Two people who scored a 5 last yearPaul Allen and David Kochpassed away. John Paul DeJoria - Forbes April 26, 2023. Please contact us at contact@globalcitizen.org if you would like to re-activate your account. So far, Scott has distributed at least $8.6 billion in less than two years to 780-plus organizations, focusing on causes including racial justice, gender equality and public health. We reached out to every list member for feedback. className: "pt-0 pb-3 my-0" Forbes doesn't provide a philanthropy score for the many U.S. billionaires who don't rank among the richest 400 Americans. The biggest giver of the bunch, in terms of dollars donated, is Berkshire Hathaways Warren Buffet. The ex-wife of Amazon founder Jeff Bezos doesn't have a website and doesn't talk publicly about her philanthropybut has been using the blogging site to chronicle her efforts to give away her massive post-divorce fortune at a faster pace than any billionaire ever. Instead of counting the dollars that list members have put in their foundations over a lifetime, we tallied the grants made by those foundations (technically, adjusted qualifying distributions), plus direct gifts we could track, to estimate how much The Forbes 400 has actually given away. Who got this score: Facebook cofounder Mark Zuckerberg, Nike cofounder Phil Knight and 114 others. The same month, Broadcom billionaire Henry Samueli pledged $100 million to UCLAs engineering school, the largest gift ever to the department. The funds will be used to build 1,400 RVs and microhouses for individuals coming out of chronic homelessness at the 51-acre Mobile Loaves & Fishes planned community. In one of the biggest scores of the oil boom, GeoSouthern sold its south Texas fields to Devon Energy for $6 billion in 2013. Seventy-six of the list members received a score of 1, including President Donald Trump, meaning they gave away less than $30 million or less than 1% of their fortune to date. The new philanthropy ranking is fundamentally flawed, in that it is biased in favor of those who make their gifts widely known, and against donors who choose to make their charitable contributions anonymously, one current Forbes 400 member (who did not wish to be named) wrote to us last year. To calculate the scores, we added the value of each persons total out-the-door lifetime giving to their 2022 Forbes 400 net worth, then divided their lifetime giving by that number. Members of this elite club have been scored on a scale of 1 to 5, with 5 being the most philanthropic. Instead of counting the dollars that list members have given to their foundations, we tallied the grants made by those foundations, plus direct gifts we could track, to see how much money has actually reached nonprofits. Kaiser is the second-richest personand one of the biggest philanthropistsin his home state of Oklahoma, where he owns a stake in the Oklahoma City Thunder NBA team. Credit: Wikipedia Commons. by Michael E. Hartmann October 13, 2022 Forbes released its 41st annual Forbes 400 list of the wealthiest Americans late last month. Others have a long way to go, as some have admitted. It rates the billionaires on how good they are at giving back, from 1 (least charitable) to 5 (most charitable). The couple has given away more than $1 billion to charitable causes. In September, Forbes released its new Forbes 400 philanthropy score, formed in partnership with Global Citizen, to assess how the 400 wealthiest billionaires in the US give directly to charities and nonprofits. Only 10 members of the Forbes 400 reached a maximum philanthropy score of 5 based on a lifetime of giving, donating one-fifth or more of their net worth to charities, according to the latest annual list of the world's wealthiest individuals.. Source of Wealth Investments, Self Made. The 10 are former hedge fund manager John Arnold, home builder and insurance magnate Eli Broad, Berkshire Hathaway CEO Warren Buffett, cable television . His organization cofounded the New York City Charter School Center and established the Robertson Scholars Leadership Program, which funds undergraduate students at Duke and UNC Chapel Hill. Besides Buffett and Soros, this exclusive club includes Intel cofounder Gordon Moore, Oklahoma philanthropist Lynn Schusterman and CNN founder Ted Turner. To see the full list of Forbes 400 members and their philanthropy scores, please go to the Forbes 400 list. Each score corresponds to a range of giving as a percentage of a persons net worth. They include Berkshire Hathaway chair and investorWarren Buffett(net worth: $73.5 billion, #4 on Forbes 400), whom Forbes estimates has given more than $41 billion to nonprofitsmore than anyone else in dollar termsprimarily through theBill & Melinda Gates Foundation, andOpen Society Foundationsfounder George Soros ($8.6 billion, #56), who has donated 64 percent of his original fortune over his lifetime, making him the most generous giver on the list. Forbes Lists #818. Who got this score: Amazon founder Jeff Bezos, Tesla CEO Elon Musk and154others. showMobileImage: true, Much of Buffetts giving has gone to the Gates Foundation, which has an endowment of nearly $50 billion. When possible, we interviewed Forbes 400 members and executives from their foundations. The foundation's largest sum in 2021$51.2 million in totalwent to the Malaria Consortium, which aims to manage and control the disease in Africa and Asia. We weighted these two factors equally. We reached out to every list member for feedback. contentList: JSON.parse('[{\u0022id\u0022:20266,\u0022thumbnails\u0022:{\u0022medium\u0022:{\u0022landscape\u0022:\u0022https://media.globalcitizen.org/thumbnails/94/05/94058280\u002D7a31\u002D4462\u002D95f9\u002Ddb462781ad95/priyanka\u002Dchopra\u002Djonas\u002Ddavos\u002Dglobalcitizen\u002D2020\u002Dsocial\u002Dshare2.jpg__800x600_q85_crop_subsampling\u002D2.jpg\u0022,\u0022portrait\u0022:\u0022https://media.globalcitizen.org/thumbnails/94/05/94058280\u002D7a31\u002D4462\u002D95f9\u002Ddb462781ad95/priyanka\u002Dchopra\u002Djonas\u002Ddavos\u002Dglobalcitizen\u002D2020\u002Dsocial\u002Dshare2.jpg__600x800_q85_crop_subsampling\u002D2.jpg\u0022,\u0022landscape_16_9\u0022:\u0022https://media.globalcitizen.org/thumbnails/94/05/94058280\u002D7a31\u002D4462\u002D95f9\u002Ddb462781ad95/priyanka\u002Dchopra\u002Djonas\u002Ddavos\u002Dglobalcitizen\u002D2020\u002Dsocial\u002Dshare2.jpg__800x450_q85_crop_subsampling\u002D2.jpg\u0022},\u0022large\u0022:{\u0022landscape_16_9\u0022:\u0022https://media.globalcitizen.org/thumbnails/94/05/94058280\u002D7a31\u002D4462\u002D95f9\u002Ddb462781ad95/priyanka\u002Dchopra\u002Djonas\u002Ddavos\u002Dglobalcitizen\u002D2020\u002Dsocial\u002Dshare2.jpg__1600x900_q85_crop_subsampling\u002D2.jpg\u0022},\u0022credits\u0022:{\u0022caption\u0022:\u0022Actor, producer, and activist Priyanka Chopra\u002DJonas joined Global Citizen and CEO advisory firm Teneo at the World Economic Forum in Davos, Switzerland, on Tuesday.\u0022,\u0022author\u0022:\u0022John Werner Photography\u0022,\u0022description\u0022:\u0022Actor, producer, and activist Priyanka Chopra\u002DJonas joined Global Citizen and CEO advisory firm Teneo at the World Economic Forum in Davos, Switzerland, on Tuesday.\u0022}},\u0022title\u0022:\u0022Priyanka Chopra Jonas Urges Worlds Billionaires to Give While You Live\u0022,\u0022url\u0022:\u0022https://www.globalcitizen.org/en/content/priyanka\u002Dchopra\u002Djonas\u002Dbillionaires\u002Dextreme\u002Dpoverty/\u0022}]'), In those instances, we listed both names. Arizona Beverages cofounder Don Vultaggio has built his fortune one 99-cent tallboy can of iced tea at a time. Elon Musk, in second place, saw his personal wealth almost triple in the last year. Thanks to a soaring stock market, the cumulative wealth of The Forbes 400 richest Americans on the 2021 list grew 40%, to an unprecedented $4.5 trillion. Global Citizen is proud to partner with Forbes on this historic initiative, which launches at a time when the role of philanthropy has never been more important in tackling the many challenges in the fight against poverty and inequality, said Hugh Evans, co-founder and CEO of Global Citizen. Philanthropy Score 2. $(function() { We scored each Forbes 400 member on a scale of 1 to 5, based on their giving as a percentage of net worth. He made headlines last year after his civic engagement organization Luminate helped Facebook whistleblower Frances Haugen with press and government relations. When measured as a percentage of net worth, the most generous giver is renowned hedge fund manager George Soros, who has donated 64% of his original fortune. In total, at least $171 billion from the coffers of Forbes 400 members a cohort with a collective $3.2 trillion net worth has ended up in the hands of charities and nonprofit institutions. The number of those who scored the highest, a 5 (indicating theyd donated 20% or more of their fortune in out-the-door giving) dropped to eight this year from 10 last year. At the same time, the federal government has been unable to deliver another relief package to help Americans weather the crisis. Philanthropy Scores Forbes gives each Forbes 400 member a "philanthropy score," on a scale from 1 to 5, based on their lifetime giving. Phil Knight invests $400 million in Portland's Albina neighborhood 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. To subscribe, select any of the newsletters listed below. They insist they will try to keep it business as usual at their Bill & Melinda Gates Foundation, though French Gates will resign in two years if they decide they cant work together. Nearly a third of the list including the worlds richest person, Jeff Bezos scored a 1, which means theyve donated less than 1% of their fortune. contentListProps The Forbes 400 is a list of American citizens; most live and have businesses in the U.S., but some reside outside the country. ContentList, (Buffett was one of the eight people this year who got a Forbes philanthropy score of 5.). Not far behind (and maybe even ahead): MacKenzie Scott, whose shoestring operationshe has no foundation and gives her wealth away in stealthdonated $5.8 billion to 500 different groups across the country in 2020. Their Ballmer Group has pledged $237.5 million over six years through 2025 as the lead investor in Blue Meridian Partners Place Matters fund, which accelerated its spending on pandemic relief last year, spreading more than $95 million across 20 cities. Even as billionairesadded an additional $240billion to their wealth over the past year, they'vebecome less generousoverall. Some provided specific details about additional donations and recipients. var contentListProps = { But it was only a matter of time: like many other philanthropic billionaires, Turner signed the Giving Pledge and will donate the majority of his wealth eventuallyhes just closer than most to reaching this goal. Billionaires (2023) #317. The bulk of his philanthropy came before 2014, when he completed a $1 billion pledge to establish the United Nations Foundation, enabling the U.N. to raise money from philanthropists. Gifts included $443 million to environmental organizations from the The Bezos Earth Fund, $100 million to former president Barack Obama's foundation and $96 million to nonprofits helping homeless families through the Bezos Day One Fund. In 2010, the legendary investor cofounded The Giving Pledge alongside Bill and Melinda. America's Top Givers 2022: The 25 Most Philanthropic - Forbes The New Forbes Philanthropy Score: How We Ranked Each Forbes 400 Our estimates factor in the total lifetime giving of American billionaires, measured in dollars given to charitable recipientsin other words, we are not including money parked in a foundation that has yet to do any good. A key area of support was toward initiatives that advance racial, gender and economic equity.

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