The world’s ultra-high-net-worth donors contributed a total of $112 billion to charitable causes in 2014, according to a new report from Wealth-X and Arton Capital.
The Philanthropy Report 2015 said the two firms’ proprietary Capital Major Giving Index rose by 6.4% year-over-year, and was at an all-time high of 234, topping the previous high of 232 in 2006 before plummeting to 39 in 2008.
The index, which is up 25% since inception, has tracked trends in charitable giving by donors with at least $30 million in net assets since 2004. It takes into account the size of gifts from ultra-wealthy individuals and the number of gifts these individuals make on a yearly basis.
According to the report, the typical philanthropist the index tracks donates $29 million in his or her lifetime, and that 65% of rich individuals donate more than $1 million.
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In the U.S., billionaires who created their own wealth give $180 million over their lifetimes.
Among global ultra-wealthy donors, Indian philanthropists are most generous, contributing an average $96.6 million over their lifetime, followed by U.K. donors’ $32.7 million and Hong Kong donors’ $32.3 million. The average ultra-wealthy U.S. donor gives $31.6 million.
Based on lifetime contributions as a percentage of net worth, U.K. donors give 12.3% to favored causes. U.S. donors give 8.7%, and those in Hong Kong 7.6%.
Emerging forms of philanthropy, such as venture and impact investing, make up 7% of UHNW philanthropy giving, or $7.8 billion, the report said.