For the second consecutive year, Michael Bloomberg, the former mayor of New York City, topped the list of biggest charitable donors in America, as highlighted by the Chronicle of Philanthropy’s Philanthropy 50 list, which ranks those who gave the most to nonprofit organizations last year.
In 2024, Bloomberg contributed an astonishing $3.7 billion to a variety of causes, including arts, education, environmental initiatives, public health, and efforts to enhance city governments. His contributions were made directly to charities and through Bloomberg Philanthropies, which notably awarded a significant $1 billion grant to his alma mater, Johns Hopkins University. This grant was intended to make the medical school tuition-free and to provide financial aid for nursing and public health students.
In an insightful email to the Chronicle, Bloomberg expressed his philosophy on philanthropy: “I’ve never understood people who wait until they die to give away their wealth. Why deny yourself the satisfaction?” Bloomberg’s determination to contribute ensures that he can positively impact others’ lives now and make the world a better place for future generations.
Bloomberg was among a handful of high-profile individuals who donated $1 billion or more in 2024. This group included Reed Hastings, co-founder of Netflix, and his wife Patty Quillin, Michael Dell of Dell Technologies and his wife Susan Dell, investor Warren Buffett, Facebook co-founder Mark Zuckerberg and his wife Dr. Priscilla Chan, and retired educator Ruth Gottesman. Significantly, Gottesman’s $1 billion donation was aimed at making medical education accessible by supporting the Albert Einstein College of Medicine.
Combined, these 50 donors contributed a total of $16.2 billion to charitable causes throughout 2024, with the median donation amounting to $100 million. The list notably excludes many of the nation’s wealthiest individuals, as only 19 people from the Forbes 400 were included.
Other noteworthy philanthropists include Thomas Golisano, No. 8 on the list, who gave $500 million to various nonprofit organizations primarily in New York and Florida. A portion of his donations, ranging from $1 million to $5 million, supported small groups that cater to individuals with developmental and physical disabilities, a cause close to his heart because of his son.
Hyatt Brown, a retired insurance executive, and his wife, Cici, made a significant contribution of $150 million to the Museum of Arts & Sciences in Daytona Beach, Florida, while venture capitalist Michele Kang provided $84 million in support, including funding for the USA Women’s Rugby Sevens team.
Debate surrounds philanthropic contributions due to their involvement in contentious issues. Some donors, like hedge-fund billionaire Bill Ackman, are reconsidering their support following universities’ reactions to global political conflicts such as the ones in Israel and Gaza, as well as debates over programs promoting diversity, equity, and inclusion. K. Lisa Yang, a retired banker, spoke on behalf of directing donations towards immediate social needs rather than being distracted by political debates.
According to Renee Kaplan, CEO of Forward Global, current philanthropic trends suggest that some donors may opt for anonymity to avoid becoming entangled in public controversies, even pooling resources in collaborative efforts for mutual protection and increasing impact.
This year marks the 25th anniversary of the Philanthropy 50. At the forefront of cumulative giving over these years is Warren Buffett, having donated a staggering $49.4 billion. He is followed by Bill Gates and Melinda French Gates, who have contributed $34 billion, albeit now individually after their divorce. Bloomberg, Jeff Bezos, and Elon Musk are also top contributors. Collectively, the top donors account for a substantial portion of the $314.5 billion donated by all donors on the list since 2000. One of the most significant individual donations during this period was Buffett’s $36.1 billion commitment to the Gates Foundation in 2006.
