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Philanthropy

The Giving Pledge gathers momentum with support of family business leaders

February 22, 2013

Some high-profile family business leaders have become the latest names to join the Giving Pledge – an initiative where billionaires promise publicly to give at least half their wealth to charity over the course of their lifetime.

British entrepreneur Richard Branson – founder of Virgin – and his wife Joan have signed the pledge, along with Azim Premji – the second-gen chairman of Indian software company Wipro. They are among 12 billionaires who have joined the initiative this year.

Total value of philanthropic gifts shrinks

December 11, 2012

The rich are making more million-pound-plus philanthropic donations, despite a decrease in the total amount given, according to a report by private bank Coutts and the University of Kent.

A total of 232 million-pound-plus donations to the value of £1.241 billion (€1.54 billion) were made in 2010/2011, found the Million Pound Donor Report.

Private initiative

December 11, 2012

Tony Elumelu is one of Africa’s most successful entrepreneurs. No wonder he believes the private sector and entrepreneurship are the key to Africa’s development.

The figures are staggering. Over the last 40 years, Africa has received about $570 billion (€435 billion) in economic aid. Yet there has been near-zero per capita economic growth, with gross domestic product for the median African country remaining stagnant. Compare that to India – which has received far less aid, but has achieved huge economic growth. Handouts, says Nigerian businessman Tony Elumelu, simply aren’t working.

Elisabeth Murdoch, matriarch of media family business, dies

December 6, 2012

Dame Elisabeth Murdoch, the mother of media mogul Rupert Murdoch and a noted philanthropist, died on 5 December aged 103 at her home in Australia.

In a message on his Twitter account, Rupert, who heads up News Corporation, described Elisabeth as “a great lady, wife, mother and citizen”.

Born in Melbourne, Elisabeth married newspaperman Keith Murdoch in 1928 – he was 28 years her senior and one of the city’s most eligible bachelors. The couple had four children and were married for 24 years before his sudden death in 1952.

Family foundations to reduce donations in future

December 5, 2012

British family foundations are set to reduce spending in the years ahead, as falling assets and tough economic conditions take their toll.

That’s according to the Family Foundation Giving Trends report, which looked at the top 100 family foundations in the UK and found they gave £1.33 billion (€1.64 billion) in the last year and £6.9 billion over the past five years.

Wealthy next-gens committed to solving inequality gap

November 29, 2012

Almost half of wealthy next-gens want to use their money to bridge the gap between rich and poor, a new study has found.

According to research for the Charities Aid Foundation, a UK-based organisation that provides financial services to charities, 44% of next-gens – defined as those under 30 years old – were concerned by the gap between rich and poor.

In contrast, only 28% of the older generation – those over 45 – saw the inequality gap as the biggest challenge the world is facing today.

Wealthy philanthropists ‘becoming more impact driven’

October 30, 2012

The rich are no longer happy to simply give money to charity – instead they are volunteering more and becoming strategic in their philanthropic donations.

That’s according to the 2012 Bank of America Study of High Net Worth Philanthropy, carried out by the Center on Philanthropy at Indiana University. It found that 95% of wealthy Americans donated to at least one charity last year, similar to previous years.

Middle East Philanthropy Awards launched

October 1, 2012

Campden Wealth, in association with the Abu Dhabi Islamic Bank, is launching the first Middle East* Philanthropy Awards, which will honour the individuals, foundations and initiatives that have made outstanding contributions in their respective fields.

The awards will be held on December 9th in a special gala dinner in Abu Dhabi and will include four categories – Philanthropist of the Year; Young Philanthropist of the Year; Foundation of the Year; and Life-Time Achievement Award.

Philanthropy: the ones to watch

September 28, 2012

The Carnegie and Rockefeller families may have been among the forefathers of modern day philanthropy, but who is following in their footsteps?

Research company Wealth-X reckons it knows. It has released a list of the “global top 20 emerging mega donors” – based on ultra-wealthy people’s efforts to “emulate forebearers of modern major giving”.

The funding crunch

September 4, 2012

Britain’s broadcasting dynasty the Dimblebys have run a cancer charity for almost half a century, but tough times mean they are thinking hard about its future.

For two generations, the name Dimbleby has been associated with British journalism. The dynasty was founded by Richard Dimbleby, who made his name as a World War II reporter, sending the first broadcasts from Belsen. He was later famous for anchoring television broadcasts of the coronation of Elizabeth II and the state funerals of JFK and Winston Churchill. Two of his children, David and Jonathan, are today household names for their work on televised election coverage and political programmes, while two of his grandchildren, Joe and Kitty, are also journalists.