Top 18 Philanthropists of the Century

Andrew Carnegie was among the wealthiest and most famous industrialists of his day. He founded the first American grant-making foundation in 1911. Through Carnegie Corporation of New York, the innovative philanthropic foundation, his fortune has since supported everything from the discovery of insulin and the dismantling of nuclear weapons, to the creation of Pell Grants and Sesame Street. Best-known in his lifetime founding 2,509 libraries, funding Carnegie University and Carnegie Hall, he distributed US$350mn, adjusted to inflation, currently valued at US$5.4bn. The endowment, which was started with US$145mn, is currently valued at US$3.5bn today. In addition to the above, the foundation spent US$4.5bn since inception. The estimated value of his donation cumulates to US$13.4bn.

When William Keith Kellogg, the inventor of ‘Corn Flakes’ was declared a millionaire at the age 46, he exclaimed “I am a steward of fortune and not the owner”. Based on that principle, Kellogg transferred the ownership of his business to his foundation, whose assets are valued at US$14.5bn. The Kellogg Foundation supports children, families and communities as they strengthen and create conditions that propel vulnerable children to achieve success as individuals and as contributors to the larger community and society.

John D MacArthur was the sole owner of the largest privately held insurance company in the US during the second half of the 20th century. In 1970, MacArthur and his wife Catherine set up the foundation to focus on private philanthropy. Although the MacArthur Foundation was initially set up to focus on philanthropy within the cities where the founders lived, now the foundation is also addressing global challenges. Akin to other philanthropists of his time, MacArthur left the management of his fortune to this professional board. He famously said, “Son, I made the money, and you figure out what do with it”. The MacArthurs rank 16 in the list with donations of US$14.5bn.

In 1953 J Paul Getty established the J Paul Getty Trust world’s largest cultural and philanthropic institution dedicated to the visual arts. The Getty Trust is an international cultural organization that includes the Getty Conservation Institute, Getty Foundation, Getty Research Institute, and J. Paul Getty Museum. His museum has an estimated 1.6 million visitors per year making it one of the most visited museums in the USA.  Drawing on our unique position as a grant-making entity within the larger Getty Trust, we utilize the expertise of all the Getty programs as well as colleagues in our fields to identify areas where grants can make a difference.

David Packard, the co-founder of HP, and his wife Lucy Packard set up the philanthropy foundation in 1964. After David’s death in 1997, the foundation inherited his estate. For more than 45 years, the David and Lucile Packard Foundation has worked with partners around the world to improve the lives of children, families, and communities—and to restore and protect our planet. It is a family foundation guided by the enduring business philosophy and personal values of Lucile and David, whose innovative approach to management helped transform a small electronics shop in their garage into one of the world’s leading technology companies. Their approach to business and community participation guides our philanthropy: They invest in leaders and institutions, collaborate with them to identify the most effective solutions, and give them freedom and support to best reach their goals. The current value of this inheritance coupled with donations equate to US$16.4bn, giving them 14th place on the list.

William Hewlett, who co-founded the Hewlett Packard (HP) Company, and Flora Hewlett rank 13 in the list with a cumulative current lifetime donation value of US$21.4bn.  William and Flora Hewlett Foundation, philanthropic organization founded in 1966 by engineer and entrepreneur William R. Hewlett, his wife, Flora Lamson Hewlett, and their eldest son, Walter B. Hewlett. Headquartered in Menlo Park, Calif, it is one of the wealthiest foundations in the United States. Pledged to address social and environmental problems in the United States and the world, Hewlett concentrates its grant-giving activities on education, the environment, global development, the performing arts, and population. The foundation also makes grants to advance private philanthropy and to support organizations that serve disadvantaged communities in the San Francisco Bay area.

Another Indian, Azim Premji, founder chairman of Wipro Limited, ranks 12th in the list. He was the first Indian to sign the Giving Pledge in 2010 and has since then transferred 67% of Wipro stakes to the Azim Premji Endowment fund. The Azim Premji Foundation, established in 2001, supports the elementary education system in rural government schools in India and has a value of US$21bn. The Azim Premji Foundation together with Wipro has donated US$150mn towards combating the horrific Covid-19 pandemic.

Robert Wood Johnson II of pharma giant Johnson & Johnson, comes next in the line with a donation amount of US$23.7bn. In 1972, Johnson transferred a major chunk of Johnson & Johnson shares into the foundation to support health care causes. The foundation has donated more than US$1bn towards childhood obesity programs. Donations are the current endowment value of Robert Wood Johnson Foundation (US$11.9bn) and cumulative donations of US$11.8bn.

Son of Henry Ford, the founder of Ford Motor Company, Edsel Ford achieved the tenth spot on the list. In 1936, Edsel Ford established the Ford Foundation with an initial gift of US$25,000. The Ford Foundation stands strong till date with its’ mission to reduce poverty and injustice, strengthen democratic values, promote international cooperation, and advance human achievement. The foundation has an estimated endowment value of US$14.2bn as of 2019 and makes US$500mn annual grants around the world, on cumulative donations of US$12.4bn.

He is often regarded as the wealthiest American of all time. In 1913, he established the Rockefeller Foundation with a US$100mn corpus and gave away US$540 million (US$9.7bn adjusted for inflation) before his death in 1937. The Rockefeller Foundation’s mission—unchanged since 1913—is to promote the well-being of humanity throughout the world. Today the Foundation advances new frontiers of science, data, policy, and innovation to solve global challenges related to health, food, power, and economic mobility. The Foundation has distributed more than US$22bn in current value since its inception.

With total donations worth US$27.5bn, JK Lilly Sr earned the eighth position on the list. In 1937, JK Lilly Sr along with his sons established Lilly Endowment to support community development, education and religion. Since its inception, the endowment donated more than US$10.9bn, most of them in Indiana and has an endowment value of US$17bn.

The founder of Rolex, Hans Wilsdorf takes up the seventh position on the list. He endowed his economic ownership in Rolex, the watchmaking empire, to create Hans Wilsdorf Foundation in 1945. The Hans Wilsdorf Foundation owns and controls Rolex to this day, and donates a great deal of its income to charity and social causes in Geneva, Switzerland. Currently, the foundation is administered by 8 board members and has been making an estimated annual donation of more than US$100mn.

Next we have on the list is the man who broke the bank of England, George Soros. In 1979, he began his philanthropy by giving scholarships and establishing the Open Society Foundation. It is a network of more than 20 regional and national foundations in eastern Europe and beyond. Causes it supports include voter rights and campaign finance, criminal justice reform, media freedom and human rights initiatives. He made huge headlines when in 2017, he transferred US$18bn to Open Society Foundations. Donations include the current endowment value of The Open Society Foundations (US$18bn) and cumulative donations of US$16.8bn.

Popularly known as the ‘The Oracle of Omaha’, Warren Buffett, ranks fifth on the list, with personal donations of US$37.4bn. Buffett had long stated his intention to give away his fortune to charity. In June 2006, pledged about the equivalent of 10 million Berkshire Hathaway Class B shares to the Bill & Melinda Gates Foundation (worth approximately $30.7 billion as of June 23, 2006), making it the largest charitable donation in history, and Buffett one of the leaders of philanthropic capitalism. He also donated to the Susan Thompson Buffett Foundation and other non-profits founded by his children. Buffett has given away more than US$37bn as part of his yearly commitments and intends to donate his remaining shares within 12 years. Along with his incredible generosity as a philanthropist, Buffett is also known for his humility and commitment to living modestly, showing that he has strong values and knows what it takes to create an extraordinary life.

Film tycoon Howard 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 US$5.2bn, becoming the richest single philanthropic endowment surpassing Ford Foundation. Donations are the current endowment value of Howard Hughes Medical Institute (US$21.2bn) together with cumulative donations of US$17.4bn.

Henry Wellcome of the United Kingdom ranked third with total donations of US$56.7bn. In the late 1800s, he made his initial wealth in pharmaceuticals. He left a large amount for charity as per his Will which was later used to form the Wellcome Trust, one of the world’s largest medical charities. In 1995, the Wellcome Trust sold Wellcome Plc to GlaxoSmithKline and became a financially independent trust.  His donation is estimated to be US$ 56.7 billion. Donations are the sum of the current endowment value of Wellcome Trust (US$38.4bn) and cumulative donations to date of US$18.3bn.

The modern-day philanthropists, Bill & Melinda Gates occupy the second spot with total donations of US$74.6bn. Their total philanthropic value is the sum of the current endowment of the value of the foundation at US$49.8bn together with their cumulative donations of US$24.8bn. Bill & Melinda Gates Foundation was established in 2010 with a focus on public health, education and climate change. The same year they created with Warren Buffett the ‘Giving Pledge’, a movement encouraging billionaires to donate the majority of their wealth to charity. As of 2021, there are 220 pledgers from 25 countries. Also, their foundation’s major initiatives include bringing contraceptive services to an additional 120 million women in the poorest countries, and preventing 264 million illnesses through vaccination as well as polio eradication, all by the end of 2021. As two of the world’s biggest philanthropists, Bill and Melinda have not only found a way to make the world a better place, but they’ve also developed a common goal of giving back despite their recent announcement of divorce.

And the personality who became the top philanthropist making a positive impact is none other than Jamsetji Tata. The Father of the Indian Industry, Jamsetji Tata became the world’s biggest philanthropist of the century with donations totaling worth US$102.4bn. His total philanthropic value is made up of 66% of Tata Sons, estimated at US$100bn, solely based on the value of listed entities. He made his fortune in the 1870s after floating Central India Spinning Weaving and Manufacturing Company and set up the JN Tata Endowment in 1892 for higher education, which was the beginning of Tata Trusts. He served primarily two of the causes i.e. education and healthcare. Jawaharlal Nehru,  India’s first prime minister, often cited him as the ‘One Man Planning Commission’. 

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