The Chronicle’s annual record of the biggest charitable donations from people or their foundations totaled practically $6 billion in 2024, half of which got here from three contributions of $1 billion or extra every. Two of those three donations have been made to medical faculties to supply monetary help. In whole, 4 of the biggest donations on the record, totaling $2.3 billion, have been earmarked to assist monetary assist.
Three contributions have been made to the donors’ personal foundations, and these donations additionally totaled $2.3 billion. Three different donations supported medical analysis or therapy, and one donation every was designated to assist civic engagement and humanities and tradition.
The record has 12 presents, as a substitute of 10, as a consequence of ties. Six of the donors are multi-billionaires and their mixed web price is estimated at $365 billion.
On the prime of the record is a present from the co-founder of Netflix Reed Hastingswhose web price Forbes estimates to be over $5 billion. Hastings and his spouse, Patty Quillin, donated 2 million shares of Netflix inventory valued at $1.1 billion to their Silicon Valley Neighborhood Basis Hastings Fund in January.
The couple launched their fund in 2016 and primarily supported instructional organizations, a selected precedence for Hastings, who taught highschool math when he was a Peace Corps volunteer within the Eighties and served as president of the Council of the California State training within the early 2000s.
Hastings co-founded the video streaming platform in 1995 as a DVD subscription service. She began streaming motion pictures and TV sequence in 2007 after which started creating her personal content material. He stepped down as co-CEO final 12 months and is at present president of the corporate.
Medical college assist
Subsequent on the record is the billion {dollars} Michael Bloomberg has given by its Bloomberg philanthropies to Johns Hopkins College to make medical college free for many college students and supply extra monetary assist to the college’s nursing and public well being college students.
Bloomberg, whose web price in response to Forbes is about $105 billion, earned a bachelor’s diploma in electrical engineering from the college in 1964. He went on to discovered the Bloomberg monetary reporting empire and function mayor of New York from 2002 to 2013. Given his alma mater, he has made at the very least $3.5 billion since graduating 60 years in the past.
Ruth Gottesmanprofessor emeritus within the division of pediatrics on the Albert Einstein School of Drugs, had the identical objective as Bloomberg. In February, she gave her former employer $1 billion to assist free tuition in perpetuity for college kids on the Albert Einstein School of Drugs.
Gottesman had a protracted profession in medical college. She joined the faculty’s Kids’s Evaluation and Rehabilitation Middle in 1968 and launched the middle’s grownup literacy program within the early Nineties. She was later named founding director of the Fisher Landau Middle for the Therapy of Kids. studying disabilities.
Her late husband, David Gottesman, ran the New York funding agency First Manhattan and was an early investor in Berkshire Hathaway and a protégé of Warren Buffett. He left his beneficial inventory portfolio to his spouse upon his dying in 2022 with directions to do with it what she thought greatest with it.
Buffett cash
Chairman and CEO of Berkshire, Warren Buffettfollows Gottesman and Bloomberg with a giant reward of its personal. The well-known financier donated 1.5 million shares of Berkshire Hathaway, valued at $716.1 million, in November to the Susan Thompson Buffett Basis, named after his first spouse, who died in 2004.
Buffett, whose web price is estimated by Forbes to be $143 billion, created The Donor in 1964 to handle the household’s charitable giving, and it stays a household affair. Two of his three youngsters sit on his board of administrators, headed by his former son-in-law. The inspiration primarily helps ladies’s reproductive well being. It additionally affords faculty scholarships to college students in Nebraska, the household’s dwelling state.
It is a particular contribution Buffett introduced in November relatively than one of many annual contributions he makes to the muse and a number of other different donors, that are funds towards the multibillion-dollar pledges that he introduced in 2006.
The Chronicle’s annual rating of the 12 months’s largest donations relies on publicly introduced donations. The depend doesn’t embody contributions of paintings or presents from nameless donors. In March, the Chronicle will unveil its annual rating of 50 biggest donorsa listing primarily based on philanthropists’ whole contributions in 2024 relatively than particular person donations.
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THE LIST
1. Reed Hastings, co-founder of Netflix, and his spouse Patty Quillin; $1.1 billion to Silicon Valley Neighborhood Basis Hastings Fund
2. (tie) Michael Bloomberg, founding father of the Bloomberg monetary data empire and former mayor of New York, by his Bloomberg Philanthropies; $1 billion to Johns Hopkins College for monetary assist
2. (tie) Ruth Gottesman, professor emeritus of the division of pediatrics on the Albert Einstein School of Drugs; $1 billion to Albert Einstein School of Drugs for monetary assist
4. Warren Buffett, chairman and CEO of Berkshire Hathaway; $716.1 million to the Susan Thompson Buffett Basis
5. Reed Hastings, co-founder of Netflix, and his spouse Patty Quillin; $502.4 million to the Hastings Fund of the Silicon Valley Neighborhood Basis
6. Roy Vagelos, retired president of the pharmaceutical firm Merck, and his spouse Diana; $400 million to Columbia College’s Vagelos School of Physicians and Surgeons to create the Roy and Diana Vagelos Institute for Primary Biomedical Sciences
7. Alice Walton, heiress to the Walmart fortune, by her Alice L. Walton Basis; $350 million to Mercy Well being to create cardiac care heart
8. Jackie and Mike Bezos, the mother and father of Amazon founder Jeff Bezos, by their Bezos Household Basis; $185.7 million to the Aspen Institute to create the Middle for Rising Generations
9. (tie) Barbara Britt, the late widow of Glenn Britt, former CEO of Time Warner Cable; $150 million bequest to Dartmouth School for monetary assist
9. (tie) Hyatt Brown, a retired insurance coverage government, and his spouse Cici; $150 million to the Museum of Arts and Sciences for a brand new constructing
9. (tie) Emmet Stephenson Jr., financier, and his daughter Tessa Stephenson Model, occasion planner; $150 million to Metropolis of Hope for pancreatic most cancers analysis
9. (tie) Byron Trott, president of funding financial institution BDT & MSD Companions, and his spouse Tina, by their Trott Household Philanthropies; $150 million to STARS School Community to assist college students in small, rural cities graduate from faculty
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Maria DiMento is a senior reporter on the Chronicle of Philanthropy, the place you may learn the complete article, including the list of donors. This text was supplied to The Related Press by the Chronicle of Philanthropy as a part of a partnership to cowl philanthropy and nonprofits supported by the Lilly Endowment. The Chronicle is solely chargeable for the content material. For all of AP’s philanthropy protection, go to https://apnews.com/hub/philanthropy.
