Smith says that combined net worth of the signers is about $400 billion, so “the commitments made by the signers could bring an estimated $200 billion or more to charity over time.” To put that in context, all of the foundations in America have a current estimated $646 billion in assets and give $46.9 billion a year, Smith said.
By looking closer at the Giving Pledge money, Smith says, we can get a better understanding of how today’s biggest givers are approaching philanthropy and targeting change.
The sources of their wealth are also revealing. The top industry of the Giving Pledge signers is banking and finance: 29 percent of the givers made their money in banking or finance. Tech and software came in second, with 24 percent, followed by industrial manufacturing (13 percent) and retail (10 percent) and entertainment/media (9 percent).
The Pledge signers are mostly senior citizens: 56 percent are over the age of 65. Only two, Facebook founders Mark Zuckerberg and Dustin Moskovitz, are under the age of 35.
When it comes to favorite philanthropic causes, health ranked first, followed by education, human services, and arts and culture. Smith said these patterns mirror broader philanthropic giving in America.
“Health and education are really the largest areas,” he said.Page 2 of 3 | Prev Page | Next Page