Here's how we ranked each Forbes400 billionaire based on their giving:
stock market, the cumulative wealth of The Forbes 400 richest Americans on the 2021 list grew 40%, to an unprecedented $4.5 trillion. But the generosity of these U.S. billionaires hasn’t kept pace with the stock market’s enormous gains.assigned a philanthropy score from 1 to 5, with 5 representing the most generous givers. If we couldn’t find any information about a person’s giving and they declined to provide details, they received a score of N/A.
To calculate the scores, we added the value of each person’s total out-the-door lifetime giving to their 2021 Forbes 400 net worth and divided their lifetime giving by that number. Each score corresponds with a range of giving as a percentage of a person’s net worth. We once again counted onlyrather than cash sitting in billionaires’ private foundations or tax-advantaged donor-advised funds that has not yet made it to those in need. We reached out to every list member for feedback.
The scores are lower than ever. The number of those who scored the highest, a 5 dropped to eight this year from 10 last year. The majority of the list either received a score of 1, meaning they have given away less than 1% of their net worth, or N/A. The number of people receiving a 1 rose from 127 to 156, while the number of recipients of every score from 2 to 5 declined compared to a year ago.
Not every billionaire has been a pandemic penny pincher, though. Warren Buffett is still the list’s biggest giver after donating $4.1 billion worth of Berkshire Hathaway stock in June, helping bring his total lifetime giving to $44 billion. He noted in athat he has now given away half of his original Berkshire stake and wondered whether it would have been better to wait longer to start giving, as the value of those shares would have increased to $100 billion.
But there are plenty of pressing needs that can hardly wait, and MacKenzie Scott has wasted no time in beginning to give her fortune away since gaining control of tens of billions of dollars in Amazon stock following her 2019 divorce from Jeff Bezos. Since July 2020, she has given just under $8.6 billion to nearly 800 organizations.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Donald Trump Falls Off The Forbes 400 For First Time In 25 YearsThe former president, who has long obsessed over where he ranks on The Forbes 400, is no longer rich enough to make the list.
Read more »
15 Under 40: The Youngest Billionaires On The 2021 Forbes 400Meme stocks and cryptomania have helped a few new millennials debut on the list, including the richest person ever under 30 besides Mark Zuckerberg.
Read more »
The Forbes 400 Self-Made Score 2021: From Silver Spooners To BootstrappersSome billionaires have come a long way to The Forbes 400. Others, not so much.
Read more »
15 Under 40: The Youngest Billionaires On The 2021 Forbes 400Meme stocks and cryptomania have helped a few new millennials debut on the list, including the richest person ever under 30 besides Mark Zuckerberg.
Read more »
15 Under 40: The Youngest Billionaires On The 2021 Forbes 400Meme stocks and cryptomania have helped a few new millennials debut on the list, including the richest person ever under 30 besides Mark Zuckerberg.
Read more »
Forbes EQ BrandVoice: End Police Stops For Minor InfractionsWhen police stop people for things like broken taillights or dark window tinting, it creates unnecessary opportunities for deadly encounters.
Read more »