PRESS RELEASE
Hurun Report found 366 individuals from USA and China who donated US$5m or more in last year
George Soros, 87, officially Most Generous Philanthropist in USA withUS$18 billiondonation
Top Five also includes Bill Gates, Warren Buffett, Mark Zuckerberg and He Xiangjian of Midea
USA has 290 individuals, or 79%; China 76 individuals or 21%
Education is preferred cause
Warren Buffett sister Roberta Elliott, 84, and Dagmar Dolby, 76, widow of sound pioneer Ray,are most generous female philanthropists, donating US$105mn each
Leading Authority on world’s wealthy publishes Hurun USA-China Philanthropy List 2018
- George Soros, 87, became officially the most generous individual from the two big economies of the USA and China with a donation of US$18bn tothe Open Society Foundation. This donation brought Soros’ lifetime contributions to US$32bn.
- 30individuals donated over US$100mn in the past year.
- Education remains the preferred causewith 58%, followed by Healthcare 18%
- Investments,Real Estateand Tech are the top 3 industries that philanthropists made their money from.
- Average ageof 66 years,three years above the average age of the Hurun Global Rich List, a list of the world’s billionaires.
- 172individuals or 34% are female.
(9 May 2018, Shanghai) Hurun Research today released the Hurun USA-China Philanthropy List 2018, a ranking of individuals from the USA and China, who donated US$5 million or more in the year ending 31 March 2018. The ranking was based on the value of their cash or cash equivalent donations given or legally pledged. This is the first year of the list of the most generous individuals from the world’s two largest economies.
Hurun Research found 366individuals from the USA and China, who have donated US$5m or more in the last year. The USA led with 290, China had76. Total donations came to US$40 billion, with an average donation of US$109mn. 6individualsmade billion-dollar donations.
Rupert Hoogewerf, Hurun Report Chairman and Chief Researcher, said “With investors anxious about a full-blown trade war between the world’s two biggest economies, Hurun Report today highlights the most generous individuals from these two countries. Despite having no death duties and a younger not for profit sector, we managed to find as many as 76 individuals from China who had donated US$5 million or more in the past year.”
Table1: Top 10 Hurun USA-ChinaPhilanthropy List 2018
Name / Donation US$mn / Cause / Main Company / Age1 / George Soros / 18,000 / Others / Soros Fund Management / 87
2 / Bill Melinda Gates / 4,600 / Healthcare / Microsoft / 62
3 / Warren Buffett / 3,170 / Healthcare / Berkshire Hathaway / 87
4 / MarkZuckerberg Priscilla Chan / 1,930 / Others / Facebook / 33
5 / He Xiangjian / 1,180 / Social Welfare / Midea / 76
6 / Michael Dell / 1,000 / Entrepreneurship / Dell / 53
7 / Florence Irving / 680 / Healthcare / Sysco / 97
8 / Xu Jiayin / 540 / Poverty / Evergrande / 60
9 / Roy & Diana Vagelos / 250 / Healthcare / Merck & Co / 88
10 / A James & Alice B Clark / 219 / Education / Clark Constructions / -
Source: Hurun Research Institute 2018
George Soros 87, donated US$18bn to his own philanthropy fund known as Open Society Foundations. One of the world’s most successful investors, Soros with this single donation made the foundation into the second largest private philanthropic foundation in the USA after the Bill and Melinda Gates Foundation. He has given US$32 billion in his lifetime. Soros has a wealth of US$8.5bn on the Hurun Global Rich List 2018, ranking him at 217 in the world.
Bill, 62, & Melinda Gates, 53, donated US$4.6bn to the Bill and Melinda Gates Foundation, taking their contributions to US$50bn since 2000. Gates is the third richest person on the planet with US$90bn, on the Hurun Global Rich List 2018. This is the second largest single donation the Gates have made. The Bill and Melinda Gates Foundation is the largest private philanthropic foundation in the USA.
Warren Buffett, 87, donated US$3.17bn to the Bill & Melinda Gates Foundation. The donations brought Buffett's total contributions to US$32bn since 2006. His wealth of US$102bn ranks 2nd on the Hurun Global Rich List 2018.
Mark Zuckerberg 33, of Facebookgave US$1.93bn to the Chan Zuckerberg Foundation. This is the second time he made a billion-dollar donation. Zuckerberg has US$79bn and is 4th on the Hurun Global Rich List 2018.
He Xiangjianof China-based Mideadonated US$1.18bn last July, to become the most generous Chinese, ranking 5th in the USA-China list. He is 34th in the world, with a wealth of US$29bn.
Michael Dell, 53, of Dell Technologies, donated US$1bn to the Michael and Susan Dell Foundation, which promotes entrepreneurship. This is the largest single donation ever made by Michael Dell in his lifetime. Dell has wealth of US$23bn, ranking him42 on the Hurun Global Rich List 2018.
Florence Irving, spouse of Herbert Irving, late co-founder of food services giant Sysco, donated US$680mn to Columbia University, taking their donations to over US$1bn.
Xu Jiayinof China-based property developer Evergrande donated US$540 million this past year. Xu holds 78% of the shares of Evergrande, and is 20th on the Hurun Global Rich List with US$41bn.
Roy, 88,and Diana Vagelosof Regeneron Pharmaceuticals donated US$250mn to alma mater Columbia University, taking their donations to over US$350mn.
James & Alice Clark, of Clark Construction donated US$219mn toalma materUniversity of Maryland scholarship programs. Clarkreceived financial aid while studying, which changed the trajectory of his life.
Table 2: By Country
Country / Number / Most Generous Philanthropist / % of List1 / USA / 290 / George Soros / 79%
2 / Greater China / 76 / He Xiangjian / 21%
Source: Hurun Research Institute 2018
Causes of Donation
With 58%, Education is the preferred cause followed by Healthcare with 18% and others with 10%. In education, philanthropists are mainly interested in contributing towards scholarships, especially at their alma maters.
Table 3: Causes
Causes / % of Donors / Largest Donor1 / Education / 58% / James & Alice Clark
2 / Healthcare / 18% / Bill and Melinda Gates
3 / Others / 10% / George Soros
4 / Social Welfare / 4% / He Xiangjian
4 / Poverty alleviation / 4% / Xu Jiayin
Source: Hurun Research Institute 2018
Philanthropists 40 Years and Under
There were 8philanthropists under 40. With a US$46mn donation, Zhang Zetian, 25, is the youngest philanthropist followed by Mark Zuckerberg of Facebook, 33.
Table 4: Youngest Philanthropists
Age / Name / Donation US$mn / Main Company / Cause25 / Zhang Zetian / 46 / JD / Education
33 / Mark Zuckerberg / 1930 / Facebook / Others
33 / Austin McChord / 50 / Datto / Education
33 / Dustin Moskovitz / 11 / Facebook / Healthcare
37 / Yang Huiyan / 110 / Country Garden / Poverty alleviation
37 / Zhou Ying / 7 / United Investments / Education
38, 37 / Wang Qicheng & Wu Yan / 15.9 / Hakim / Education
38 / Zhang Bangxin / 12 / TAL / Education
Source: Hurun Research Institute 2018
Female philanthropists
34% are female philanthropists, led by Roberta Buffett Elliott and Dagmar Dolby with US$105mn.
Interesting Facts
- ‘Crypto Billionaire’ Chris Larsen donated the equivalent of US$29 million worth of crypto currencies.
- Gary R Carlson’s affinity towards dogs made him donate US$50 million to Oregon State University veterinary department.
- Facebook’s recent breach over users privacy made techie Brian Acton, one of the founders of Whatsapp to donate US$50 million to Signal Foundation which focuses on privacy and data protection.
- Former Congressmen Frank Guarini Donated US$20 million to the New York University School of Law to set up a global legal studies program.
Methodology
This is the first ever ranking of the largest philanthropists from the USA and China, the two most important economies in the world.
To begin with, we set a threshold of US$5 million of cash and cash equivalents given or pledged with legally binding commitments for the twelve-month period from 1 April 2017 to 31 March 2018. For donations made through corporates, we calculated the individual’s donation by multiplying the donation by their shareholding.
Next we defined individuals as coming from the USA and China as ‘individuals who either reside in, or were born/brought up in these countries, no matter their residency or passport today.’
The Hurun Research Institute surveyed many of the world’s most successful entrepreneurs, meticulously cross-referencing the results with media reports and charitable foundations. In the course of the research, Hurun Research Institute attended not for profit seminars, as well as meeting with scholars, experts, philanthropists and senior members of charitable foundations.
Tracking down the most generous individuals from these two countries is an almost impossible task. Many go to extraordinary lengths to keep their donations out of the public eye. However, we believe that this first list of the most generous individuals from the USA and China is the most serious and authoritative effort to date, identifying the individuals and highlighting the causes they donate to.
Hurun USA-CHINA Philanthropy List2018 - Top 100
Rank / Name / Donation US$m / Major donations details / Main Company / Age / Country1 / George Soros / 18,000 / Donated US$18bn to Open Society Foundations, the second-largest private charity after the Bill & Melinda Gates Foundation to promote democracy around the globe / Soros Fund Management / 87 / USA
2 / Bill and Melinda / 4,600 / Donated for a a new campaign to combat the spread of malaria / Microsoft / 62 / USA
3 / Warren Buffett / 3,170 / Donated to the Gates Foundation, which focuses on improving health, reducing poverty and aiding education, is receiving about $3.17 billion. / Berkshire Hathaway / 87 / USA
4 / MarkZuckerberg & Priscilla Chan / 1,930 / Donated 1900 million to to their Chan Zuckerberg Foundation for education, housing, science and improving the criminal justice system / Facebook / 33 / USA
5 / He Xiangjian / 1,180 / He gave its holdings of 100 million shares of Midea group shares and US$32m in cash into “He Foundation” in July last year, and he is served as honorary President, to support the accuracy of the national poverty alleviation, education, health care, pension, business innovation, cultural inheritance, and other fields of development of public welfare charity. / Midea / 76 / China
6 / Michael Dell / 1,000 / Donated $1 Billion Commitment To Support Social Entrepreneurs, Nonprofits / Dell / 53 / USA
7 / Florence Irving / 680 / Donated 600 million to Columbia University for fighting cancer and 80 million to Metropolitan Museum of Art to acquire new artworks and endow the Department of Asian Art. / Sysco / 97 / USA
8 / Xu Jiayin / 540 / The expansion of targeted poverty alleviation and donation to US$175m in Dafang County, Guizhou Province, in the name of the group, and US$32m in the fourth round. In the name of the group, the charity donated US$63m in Guangdong poverty alleviation day. / Evergrande / 60 / China
9 / Diana and P. Roy Vagelos / 250 / Donated 250 million to Columbia University College of Physicians and Surgeons to replace loans with scholarships for medical students with financial need / Regeneron Pharmaceutical / 88 / USA
10 / A. James & Alice B. Clark / 219 / Donated 219 million to transform the University of Maryland / Clark Construction Group / - / USA
11 / Susan and Henry Samueli / 200 / Donated to the UC Irvine to create a college that educates medical students in holistic practices as well as traditional ones and treat patients with a wide-ranging perspective / Broadcom / 63 / USA
12 / Jack and Laura Dangermond / 165 / Donated 165 million to Nature Conservancy for to preserve a pristine stretch of California's coastline / ESRI / 73 / USA
13 / Lu Zhiqiang / 160 / Donated US$160m in the past year, ranking third. The major donations include the donation of US$127m in the name of the group, and the expansion of the Oceanwide Student Assistance Operation to Hebei, Inner Mongolia, Heilongjiang and Hunan provinces for 4 years. In the name of the group, it donated US$48m to Fudan University, which has donated more than US$16m to Fudan University. / Oceanwide / 66 / China
14 / Charles Butt & family / 155 / Donated 150 million to improve the quality of education in Texas public schools / Heb Store / 80 / USA
15 / Richard and Susan Rogel / 150 / Donated US$150mn to the University of Michigan to support the UM Comprehensive Cancer Center and It will be renamed as Rogel Cancer Center / Tomay Inc / 67 / USA
15 / Larry and Beth Gies / 150 / Donated 150 million to University of Illinois to create graduate programs and use technology to democratize education / Madison Industries / 46 / USA
17 / Zhang Jianbin / 143 / Donated US$145m in the past year, ranking fourth.Donation of US$16m to establish the Ruihua charitable foundation in Jiangsu province, with an individual donation of US$127m and a donation of US$32m to the group for medical treatment and education. / Ruihua / - / China
18 / Michael Bloomberg / 129 / Donated 64 million to a campaign that aims to slash the number of U.S. coal-fired plants by two thirds by 2020, 5 million for healthcare in rural areas / Bloomberg / 76 / USA
19 / Ken Griffin / 125 / Donate $125 million for University of Chicago Economics to support economic scholarship. / Citadel / 49 / USA
20 / Walton Family / 120 / Donated 120 million toward growing the University of Arkansas’ art department into a school of art. / Walmart / 68 / USA
21 / Jay Shidler / 117 / Donated to his alumnus Shidler College of Business at the University of Hawaiʻi at Mānoa to make the college tuition-free within 40 years / Shidler Group / 71 / USA
22 / William and Linda Frost / 110 / Former Owner of Chemlogics Donated 110 million to California State University for new research on mathematics and science. / - / - / USA
22 / Yang Guoqiang & Yang Huiyan / 110 / Donated US$80bn in the Guangdong poverty alleviation day in the name of Evergrande group. / Country Garden / 63, 37 / China
24 / Roberta Buffett Elliott / 105 / Donated 105 million to Montage Health Foundation to create new solutions to child and adolescent behavioral health issues. / Berkshire Hathaway / 84 / USA
24 / Dagmar Dolby & family / 105 / University of Cambridge recieved £85 million gift from the Dolby family to transform Cambridge science. / Dolby Laboratories / 76 / USA
26 / Joseph (Rusty) Walter III and Paula walter / 101 / Donated 101 million to Houston Methodist Hospital for neuroscience research / Walter Oil & Gas / 61 / USA
27 / John A Sobrato & family / 100 / Donated 100 million to Santa Clara University to help create the Sobrato Campus for Discovery and Innovation. / Sobrato Development / 78 / USA
27 / Sheryl Sandberg / 100 / Donated 100 million towards LeanIn.org andOptionB.org, two organizations that Sandberg founded under the umbrella of the Sheryl Sandberg & Dave Goldberg Family Foundation to prevent child hunger / Facebook / 48 / USA
27 / Craig and Janet Duchossois / 100 / Donated 100 million to to establish The Duchossois Family Institute at the University of Chicago Medicine / Duchossois Group / 72 / USA
27 / Chen Tianqiao / 100 / Donated US$100m, ranking sixth. The Shanghai Chen Tianqiao International Brain Disease Research Institute was established to support medical research. / Shanda / 45 / China
27 / Robert Hale Jr. and Karen Hale / 100 / Donated 50 million to Boston Children’s Hospital and 50 million to Brigham and Women’s Hospital. The gifts of $50 million each will support innovations in patient care at the two hospitals. / Granite Telecommunications / 50 / USA
32 / Huang Qisen & family / 97 / Donated US$95m, ranking seventh. Huang donated US$48m to his Alma mater, Fujian First Middle School. / Thaihot / 53 / China
33 / Huang Chaoyang / 79 / Donated US$80m to the Fujian Nan'an Charity Association in his own name and set up the Jun Charitable Foundation of Nan'an Charity Association. / SCE / 52 / China
34 / Wang Jianlin & family / 76 / Donated US$43m to Danzhai in the name of the group for targeted poverty alleviation, with a total donation of US$120m so far. Donated US$5m to the education development foundation of South China Normal University; Donated US$5m to the earthquake-stricken areas in Sichuan Mao County and Jiuzhaigou earthquake area. / Wanda / 64 / China
35 / Amy and Richard Wallman / 75 / Donated 75 million to to support University of Chicago Booth School of Business. The school plans to use the gift to support a number of initiatives, including scholarships for students in the full-time, evening, weekend and executive MBA programs. / Honeywell International Inc / 66 / USA
35 / William H. Miller / 75 / Donated 75 million to Johns Hopkins University for the development of the philosophy department. / Legg Mason Capital Management / 67 / USA
37 / Jeff and Mackenzie Bezos / 68 / Donated $35 millionto the Fred Hutchinson Cancer Research Center in Seattle and 33 million for Dream us, a non profit organisation for that provides scholarships and support for so-called "Dreamers," undocumented immigrants who arrived in the U.S. as children / Amazon / 54 / USA
38 / Don and Barbara Hrbek Zucker / 61 / Donated 61 million to Northwell Health for the Donald and Barbara Zucker School of Medicine at Hofstra/Northwell and scholarship for students. / Donald Zucker Company / - / USA
39 / Bernard Marcus / 53 / Donated 38 million to University of Colorado for the Marcus Institute for Brain Health, in Aurora, Colo. The institute will provide treatment for traumatic brain injury. & 15 million for to establish the Marcus Stroke Network, a coordinated and collaborative effort among Grady Health System, Emory University School of Medicine, Boca Raton Regional Hospital and the American Heart Association/American Stroke Association to help reduce stroke disability and death rates in the Southeastern United States. / The Home Depot / 88 / USA
40 / Eric and Susan Smidt / 50 / Donated 50 million to Cedars-Sinai Medical Center to create the Smidt Heart Institute. / Google / 62 / USA
40 / David Hindawi / 50 / Donated 50 million to funding his charitable foundation.The foundation focuses on early childhood development and health. / Tanium / 73 / USA
40 / Haim Saban / 50 / Donated 50 million to build the Motion Picture Academy's long-awaited museum in Los Angeles. / Media Nusantara Citra / 73 / USA
40 / Gary R. Carlson / 50 / Donated 50 million to Oregon State University to bolster OSU’s veterinary college under the donors name. / - / - / USA
40 / Samuel and Ann Mencoff / 50 / Donated 50 million to Brown U., Warren Alpert Medical School mainly to establish new medical-research funds and support scholars at the Brown Institute of Translational Science / Madison Dearborn Partners / 61 / USA
40 / John and Marree Townsend / 50 / Donated 50 million to University of California for its capital campaign / Tiger Management Corp / - / USA
40 / Austin McChord / 50 / Donated US$50mn to Rochester Institute of Technology his alma matter. US$30mn will be used for creative entrepreneurship initiatives and remaining $20 million will be used to support cybersecurity and artificial intelligence research. / Datto / 33 / USA
40 / Brian Acton / 50 / Donated to Signal Foundation which is focused on privacy and data protection for everyone, everywhere / WhatsApp / 46 / USA
40 / Steven & Alexandra Cohen / 50 / Donated to The Museum of Modern Art for renavation and expansion / Sac Capital / 61 / USA
40 / Stephen Ross / 50 / Donated to the Michigan University for Creating New Student Success Initiatives / Related Companies / 77 / USA
40 / Harry and Linda Fath / 50 / Donated 50 million to Linder centre of hope for infrastructure and other programs / Fath properties / 77 / USA
40 / James J. and Frances Maguire / 50 / Donated 50 million to Saint Joseph’s University for expansion and other programs / Philadelphia Indemnity Insurance Company / 82 / USA
40 / Ernest and Evelyn Rady / 50 / Donated 50 million to San Diego Salvation Army to help the homeless people by building homes. / American Assets / 80 / USA