Philanthropy in Action: Billion-Dollar Donations Shape the Future
In 2024, a remarkable $6 billion in charitable donations was made by individuals and their foundations, with three contributions exceeding $1 billion each. This generosity has far-reaching implications, particularly in the realm of education and medical research.
Financial Aid Takes Center Stage
Four of the top donations, totaling $2.3 billion, were dedicated to supporting financial aid for students. This significant investment will have a profound impact on the lives of countless individuals, providing them with access to quality education and opportunities for growth.
Medical Research and Treatment Advance
Three contributions, valued at $2.3 billion, were made to support medical research or treatment. These gifts will help drive innovation and improvement in the healthcare sector, ultimately leading to better outcomes for patients and their families.
Civic Engagement and Arts and Culture Benefit
One donation each was made to support civic engagement and arts and culture, demonstrating the importance of these areas in fostering a well-rounded society.
The Donors Behind the Gifts
Six multibillionaires, with a combined net worth of an estimated $365 billion, feature on the list. Their generosity is a testament to their commitment to making a positive impact on the world.
Reed Hastings Leads the Way
Netflix co-founder Reed Hastings, with a net worth of over $5 billion, tops the list with a gift of 2 million shares of Netflix stock, valued at $1.1 billion, to his Hastings Fund at the Silicon Valley Community Foundation. This donation will support education organizations, a cause close to Hastings’ heart.
Michael Bloomberg’s Generosity
Michael Bloomberg, founder of the Bloomberg financial-news empire and former mayor of New York, gave $1 billion to Johns Hopkins University to make medical school free for most students and provide more financial aid to the university’s nursing and public health students. This gift is a testament to Bloomberg’s dedication to education and healthcare.
Ruth Gottesman’s Legacy
Ruth Gottesman, a professor emerita of Albert Einstein College of Medicine’s Department of Pediatrics, donated $1 billion to support free tuition in perpetuity for Albert Einstein College of Medicine students. Her generosity will have a lasting impact on the medical community.
Warren Buffett’s Contribution
Warren Buffett, chairman and CEO of Berkshire Hathaway, gave 1.5 million shares of Berkshire Hathaway stock, valued at $716.1 million, to the Susan Thompson Buffett Foundation. This donation will support women’s reproductive health and provide college scholarships for students in Nebraska.
The Full List of Donors
- Reed Hastings and Patty Quillin; $1.1 billion to Hastings Fund at Silicon Valley Community Foundation
- (tie) Michael Bloomberg; $1 billion to Johns Hopkins University for financial aid
- (tie) Ruth Gottesman; $1 billion to Albert Einstein College of Medicine for financial aid
- Warren Buffett; $716.1 million to Susan Thompson Buffett Foundation
- Reed Hastings and Patty Quillin; $502.4 million to Hastings Fund at Silicon Valley Community Foundation
- Roy Vagelos and Diana Vagelos; $400 million to Columbia University Vagelos College of Physicians and Surgeons
- Alice Walton; $350 million to Mercy Health to establish a cardiac care center
- Jackie and Mike Bezos; $185.7 million to Aspen Institute to establish the Center for Rising Generations
- (tie) Barbara Britt; $150 million bequest to Dartmouth College for financial aid
- (tie) Hyatt Brown and Cici Brown; $150 million to Museum of Arts and Sciences for a new building
- (tie) Emmet Stephenson Jr. and Tessa Stephenson Brand; $150 million to City of Hope for pancreatic cancer research
- (tie) Byron Trott and Tina Trott; $150 million to STARS College Network to assist students from small and rural towns graduate from college
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