The global ultra high net worth (UHNW) population, which comprises 0.003% of the world’s inhabitants, holds a staggering 13% of the world’s total wealth. Thankfully, these millionaires and billionaires don’t mind throwing around a bit of their riches to charitable causes, as these new study findings from Wealth-X show.
The typical ultra-wealthy philanthropist donates more than $28 million over the course of his or her life time, is 64 years old, has an average net worth of $270 million, and an average liquidity of $52 million.
Major giving to educational causes accounts for 40% of all UHNW donations—three times more than the amount given to health causes.
Individual gifts by UHNW female major donors, on average, is 26% larger than their male counterparts.
Nearly 70% of UHNW philanthropists are self-made and actively contribute to programs that aim to increase entrepreneurialism.
Philanthropic bequests are expected to reach $97 billion in the next 10 years.