In this article, we will talk about the 25 biggest philanthropists in the US in 2023. If you want to skip our detailed analysis, head straight to the 5 Biggest Philanthropists in the US in 2023.
American Philanthropic Donations
American philanthropists are among the top philanthropists in the world. America’s wealthiest people are also the most generous givers in the country. Despite the drop in billionaire fortunes in 2022, charitable donations by American philanthropists increased last year. As per Forbes, the 25 biggest donors on its list donated around $196 billion over their lifetimes through the end of 2022, up from $196 billion in 2021. The $27-billion rise in philanthropic donations in 2022 has surpassed the $20-billion gain in the last two years and sums more than what the top 25 philanthropists gave away in 2018.
According to the National Philanthropic Trust, Americans donated $499.33 billion in 2022. The corporate and foundation donations grew to $21.08 billion and $105.21 billion in 2022, respectively. Corporate giving increased 2.4% compared to 2021 and foundation giving increased 2.5% from 2021. While donation by bequest in 2022 was $45.6 billion. In 2022, the largest source of philanthropic activities in the US came from individuals, who donated $319.04 billion, representing 64% of total giving.
In 2022, the majority of the charitable dollars went to organizations serving in religion at 27%, human services at 14%, and education at 13%, among others. While there was double-digit growth in gifts for foundations.
American Philanthropists Who Have Pledged
American philanthropists have been donating billions for years now. In 2010, Warren Buffett, Bill Gates, and Melinda French Gates established The Giving Pledge. The purpose of The Giving Pledge was to gather philanthropists so they could pledge a large portion of their wealth to public service after their death. The idea was initially to gather ultra-wealthy people from the US, but The Giving Pledge saw interest from philanthropists around the world. Warren Buffett who is one of the richest billionaires in the world has pledged 99% of his wealth for donation. In his pledge letter, Warren Buffett says:
“First, my pledge: More than 99% of my wealth will go to philanthropy during my lifetime or at death. Measured by dollars, this commitment is large. In a comparative sense, though, many individuals give more to others every day.”
Buffett generates his wealth from his holding firm Berkshire Hathaway Inc. (NYSE:BRK-B). On June 22, Reuters reported that Buffett has donated another $4.64 billion of Berkshire Hathaway Inc. (NYSE:BRK-B) stock to five charities, including a donation to the Bill & Melinda Gates Foundation. Since 2006, Buffett has donated more than $51 billion through the giving of his Berkshire Hathaway Inc. (NYSE:BRK-B) shares. With Warren’s recent donation, he gave away 13.7 million of Berkshire Hathaway Inc.’s (NYSE:BRK-B) shares, of which 10.45 million shares were given to the Bill & Melinda Gates Foundation. Warren Buffett has contributed more than $39 billion of Berkshire Hathaway Inc.’s (NYSE:BRK-B) shares to the Bill & Melinda Gates Foundation overall.
Founder of Microsoft Corporation (NASDAQ:MSFT), Bill Gates is one of the biggest philanthropists in the US. Bill has made his fortune from Microsoft Corporation (NASDAQ:MSFT) and he has been donating through his foundation, the Bill & Melinda Gates Foundation. Gates established the foundation in 2000 and since then he has contributed billions to various non-profit and profit organizations. Bill Gates is investing in an Australian climate technology startup. On January 23, Bloomberg announced that Breakthrough Energy Ventures LLC, led by Microsoft Corporation’s (NASDAQ:MSFT) founder, and Andrew Forrest’s Harvest Road Group participated in a $12 million Phase 2 seed funding round for Rumin8 Pty.
Bill through his foundation contributes to various organizations that are doing the job for the betterment of society. In October 2023, the Bill & Melinda Gates Foundation granted $1.16 million to Australian firm Vaxxas Pty Ltd for its vaccine development and phase 2 MAP Industrial Proof of Principle work.
Alphabet Inc. (NASDAQ:GOOG) co-founder Sergey Brin has risen among the biggest philanthropists in the US in 2023. On May 15, Bloomberg reported that Brin gifted Alphabet Inc. (NASDAQ:GOOG) shares worth around $600 million to unnamed sources. In a filing, it was disclosed that 5.2 million Alphabet Inc. (NASDAQ:GOOG) shares were gifted by Brin. They could be directed to charity, or any other financial trusts, added Bloomberg. Brin has also been funding Parkinson’s research and has quietly donated $1.1 billion to date towards the research, as per Forbes.
25 Biggest Philanthropists in the US in 2023
Our Methodology
To compile our list of the biggest philanthropists in the US in 2023, we gathered data from Forbes. First, we took the top 50 wealthiest Americans and checked their philanthropy scores, which are measured on a scale of 1 to 5. The higher philanthropy score describes a larger percentage of wealth donations.
Here is the breakdown of the philanthropy scores:
- A philanthropy score of 1 means 1% of wealth is given away.
- A score of 2 means 1% to 4.99% of wealth is given away.
- A score of 3 means 5% to 9.99% of wealth is given away.
- A score of 4 means 10% to 19.99% of wealth is given away.
- A score of 5 means more than 20% of the wealth is given away.
Therefore, individuals with higher philanthropy scores are ranked higher on the list. For similar philanthropy scores, we have considered net worth as a tie-breaker, and the individuals with higher net worth are ranked higher. We took the net worth data from the Forbes Real Time Billionaires database.
Our list is ranked in ascending order of philanthropy scores, primarily, and net worth, secondarily.
25 Biggest Philanthropists in the US in 2023
25. Miriam Adelson
Philanthropy Score: 2
Net Worth (As of October 21): $31.3 Billion
Miriam Adelson is the owner of the Las Vegas Sands Corp. (NYSE:LVS). Miriam Adelson ranks 25th on our list of the biggest philanthropists in the US in 2023.
Warren Buffet, Bill Gates, and Sergey Brin are some of the biggest philanthropists in the US and leading entrepreneurs that have led Berkshire Hathaway Inc. (NYSE:BRK-B), Microsoft Corporation (NASDAQ:MSFT), and Alphabet Inc. (NASDAQ:GOOG).
24. Ken Griffin
Philanthropy Score: 2
Net Worth (As of October 21): $34.1 Billion
Founder and CEO of Citadel LLC, Ken Griffin is one of the biggest philanthropists in the US in 2023. Griffin has donated around $1.9 billion to philanthropic causes, as per Forbes. In April 2023, Ken Griffin donated $300 million to Harvard University, his alma mater, where he began Citadel LLC.
23. Charles Koch
Philanthropy Score: 2
Net Worth (As of October 21): $51.8 Billion
Charles Koch is the 24th richest person in the world. Charles donated $5.3 billion of the 2022 sales of $125 billion of his conglomerate’s nonvoting stock. CEO of Koch Industries, Charles Koch remains one of the biggest philanthropists in the US in 2023.
22. Julia Koch
Philanthropy Score: 2
Net Worth (As of October 21): $57.4 Billion
Along with her children, Julia Koch inherited a 42% stake in Koch Industries from her husband, David. Julia Koch is a prominent donor and ranks among the biggest philanthropists in the US in 2023.
21. Alice Walton
Philanthropy Score: 2
Net Worth (As of October 21): $64.9 Billion
The only daughter of Walmart Inc.’s (NYSE:WMT) founder Sam Walton, Alice Walton is the founder of the Crystal Bridges Museum of American Art. Alice Walton mainly contributes to museums across the country.
20. Michael Dell
Philanthropy Score: 2
Net Worth (As of October 21): $67.2 Billion
Michael Dell is one of the biggest philanthropists in the US in 2023. Michael Dell is the chairman and CEO of Dell Technologies Inc. (NYSE:DELL). Michael Dell runs the Michael & Susan Dell Foundation.
19. Steve Ballmer
Philanthropy Score: 2
Net Worth (As of October 21): $99.7 Billion
Steve Ballmer is the former CEO of Microsoft and the owner of the NBA’s Los Angeles Clippers. In 2022, Ballmer and his wife gave away $450 million to the University of Oregon. Steve Ballmer ranks among the biggest philanthropists in the US in 2023.
18. Sergey Brin
Philanthropy Score: 2
Net Worth (As of October 21): $109.4 Billion
Co-founder of Alphabet Inc. (NASDAQ:GOOG), Sergey Brin is one of the biggest philanthropists in the US in 2023. Sergey Brin donated $600 million worth of Alphabet Inc. (NASDAQ:GOOG) shares to an unnamed source earlier in May 2023.
17. Mark Zuckerberg
Philanthropy Score: 2
Net Worth (As of October 21): $109.5 Billion
Mark Zuckerberg is part of the Giving Pledge and ranks among the biggest philanthropists in the US in 2023. Mark Zuckerberg and Priscilla Chan have donated a $250 million prize to Shana Kelley and her team, to support their development in the biotech sector.
16. Jeff Bezos
Philanthropy Score: 2
Net Worth (As of October 21): $148 Billion
The founder of Amazon.com, Inc. (NASDAQ:AMZN), Jeff Bezos is one of the richest people in the world. In 2022, Jeff Bezos donated more than $400 million worth of stock to nonprofits, as per Forbes. Jeff Bezos continues to be one of the biggest philanthropists in the US in 2023.
15. David Duffield
Philanthropy Score: 3
Net Worth (As of October 21): $11.9 Billion
David Duffield is the founder and chairman of software firm, Workday, Inc. (NASDAQ:WDAY). One of the leading American philanthropists, David Duffield ranks 15th on our list of the biggest philanthropists in the US in 2023.
14. Leonard Lauder
Philanthropy Score: 3
Net Worth (As of October 21): $14.2 Billion
Leonard Lauder is the chairman emeritus of Estée Lauder. Leonard along with his brother Ronald Lauder donated a combined $200 million to the Alzheimer’s Drug Discovery Foundation earlier in April 2023. Ranked 14th on our list, Leonard Lauder ranks among the biggest philanthropists in the US in 2023.
13. Philip Anschutz
Philanthropy Score: 3
Net Worth (As of October 21): $14.8 Billion
Over five decades, Philip Anschutz has built fortunes in oil, real estate, railroads, entertainment, and telecom. Philip Anschutz is one of the biggest philanthropists in the US in 2023.
12. Ray Dalio
Philanthropy Score: 3
Net Worth (As of October 21): $15.4 Billion
Ray Dalio is the founder of Bridgewater Associates, one of the world’s largest hedge funds. Ray Dalio contributes through Dalio Philanthropies and has supported microfinance and public education. Ray Dalio ranks among the biggest philanthropists in the US in 2023.
11. Steve Cohen
Philanthropy Score: 3
Net Worth (As of October 21): $19.8 Billion
Steve Cohen is the founder of hedge fund firm, Point72 Asset Management. In June 2023, Steve donated $5 million to MAPS or the Multidisciplinary Association for Psychedelics Studies through his foundation. Steve Cohen is ranked 11th on our list of the biggest philanthropists in the US in 2023.
10. Eric Schmidt
Philanthropy Score: 3
Net Worth (As of October 21): $19.9 Billion
Eric Schmidt has served as CEO of Alphabet Inc. (NASDAQ:GOOG) from 2001 to 2011. Schmidt co-founded a venture capital firm, Innovation Endeavors, that has invested in SoFi, Uber, and Zymergen, among others. Eric Schmidt donates through his charity firm Schmidt Family Foundation and is one of the biggest philanthropists in the US in 2023.
9. Phil Knight
Philanthropy Score: 3
Net Worth (As of October 21): $41.1 Billion
Phil Knight is the founder of NIKE, Inc. (NYSE:NKE). Phil is one of the biggest philanthropists in the US in 2023. In April 2023, Phil Knight pledged $400 million to invest in North Portland’s Albina neighborhood.
8. Dustin Moskovitz
Philanthropy Score: 4
Net Worth (As of October 21): $12.3 Billion
Dustin Moskovitz is a co-founding member of Facebook. He left the social media giant in 2008 and co-founded a workflow software firm, Asana, Inc. (NYSE:ASAN). Moskovitz co-founded his philanthropic foundation with his wife Cari Tuna, Good Ventures. Through Good Ventures, Dustin Moskovitz has granted $2.5 billion to causes such as biosecurity and effective altruism.
7. George Kaiser
Philanthropy Score: 4
Net Worth (As of October 21): $13.5 Billion
George Kaiser is part of the Giving Pledge and is one of the biggest philanthropists in the US in 2023. In the 1960s, Kaiser took over his family’s oil company. Kaiser has donated almost $2 billion via the George Kaiser Family Foundation.
6. Donald Bren
Philanthropy Score: 4
Net Worth (As of October 21): $18 Billion
Donald Bren is a real estate tycoon and he is serving as the Chairman of Irvine Company. Bren also owns a 97% stake in Manhattan’s MetLife Building. Bren has given away more than $2.1 Billion in total philanthropic donations. Donald Bren ranks 6th on our list of the biggest philanthropists in the US in 2023.
American philanthropists such as Warren Buffet, Bill Gates, and Sergey Brin have contributed billions of dollars to charity with the help of their respective companies including Berkshire Hathaway Inc.(NYSE:BRK-B), Microsoft Corporation (NASDAQ:MSFT), and Alphabet Inc. (NASDAQ:GOOG).
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Disclosure: None. 25 Biggest Philanthropists in the US in 2023 is originally published on Insider Monkey.