Latest news with #ChronicleofPhilanthropy
Time Magazine
20-05-2025
- Business
- Time Magazine
Michael Bloomberg
Michael Bloomberg brings the same approach to giving away money as he does to making it. From a fortune amassed by providing precise information to the financial services industry, he has so far donated more than $21 billion to causes ranging from climate to education to the arts. Last year alone, Bloomberg gave $3.7 billion, making him 2024's largest individual donor, according to the Chronicle of Philanthropy (he was 2023's biggest giver as well). Noteworthy grants included $1 billion to Bloomberg's alma mater, Johns Hopkins University, to make medical school free for most students and increase financial aid for nursing and public-health students, plus $600 million to boost medical-school endowments at four historically Black colleges and universities. Earlier this year, Bloomberg Philanthropies also announced plans to support efforts to honor the country's commitments under the Paris Agreement following the Trump administration's withdrawal from the international agreement. Key to the overarching strategy is using data to first identify problems, then target solutions and measure progress. Many of his philanthropic initiatives tend to focus on cities as key stakeholders, drawing on Bloomberg's experience as mayor of New York City and working collaboratively with a network of mayors across the globe. As Bloomberg noted in 2018: 'Data doesn't give us all the answers—that requires creativity and innovative problem-solving. But data and facts anchor our thinking to reality at a time when political debate is increasingly untethered to them.'
Yahoo
08-03-2025
- Business
- Yahoo
Phil, Penny Knight's charitable contributions through 2024 land them on top donor list
PORTLAND, Ore. () — The co-founder of an Oregon sportswear giant and his wife have once again been named among the nation's top donors, but the couple has dropped several spots since the last ranking. The Chronicle of Philanthropy uncovered its of the 50 most generous donors in the U.S. Phil Knight, former CEO and current chairman emeritus of Nike, nabbed the 10th spot alongside his wife Penny Knight. Clackamas County Commissioner Melissa Fireside resigns amid theft, forgery charges According to the philanthropy magazine, the Hillsboro-based couple gifted around $370.4 million to different causes throughout 2024. The biggest share of donations, about $170.5 million, went toward the Knight Foundation. Most of the remaining dollars went to the Knight Family Charitable Fund and the Travis Knight Family Charitable Fund. 'In addition, the Knights gave several direct personal gifts, including $35.5 million to back construction projects and campus renovations at the University of Oregon; $2.5 million to TrackTown USA, a Eugene, Ore. nonprofit that organizes track and field events and operates youth-fitness and other programs; and $1.4 million in small gifts to a range of other charitable causes,' the Chronicle of Philanthropy . The report also noted the grants for 'scientific research and business programs' at the University of Oregon and Stanford University, where Phil earned his bachelor's and master's degrees, respectively. His donations to programs like the 1803 Fund and Albina Head Start – both of which support North Portland's Black community – were highlighted as well. The Nike co-founder's $400 million gift to these causes in 2023 landed him the third spot in the . SheBrew festival, Lady Gaga Night among Portland events this weekend This year, businessman Michael Bloomberg topped the list with an estimated $3.7 billion in donations. The former New York mayor's biggest gift benefitted his former university, Johns Hopkins. Other top donors were Netflix co-founder Reed Hastings and his wife Patty Quillin, Dell Technologies founder Michael Dell and his wife Susan, as well as Berkshire Hathaway CEO Warren Edward Buffett. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Yahoo
04-03-2025
- Business
- Yahoo
The 10 most charitable people in America
Michael Bloomberg topped the list of the United States' biggest charitable donors, for the second year in a row, the Chronicle of Philanthropy announced Tuesday. The billionaire's Bloomberg Philanthropies awarded significant grants to four historically Black medical schools: Howard University College of Medicine, Meharry Medical College, Morehouse School of Medicine, and Charles R. Drew University of Medicine & Science. Bloomberg also gave $1 billion to his alma mater Johns Hopkins University. The grant money will make Johns Hopkins Medical School tuition free for students from families earning under $300,000 and will also increase financial aid for students pursuing degrees in nursing and public health. While Bloomberg continues to give away much of his vast fortune, many of the most prominent billionaires in the U.S. failed to do the same. Just 19 of the richest Americans on the Forbes 400 made the Chronicle of Philanthropy's list of the country's 50 biggest donors. Bill Gates came in 18th place, while his ex-wife Melinda came in seventh place. Elon Musk, Jeff Bezos, Larry Ellison, and Larry Page all failed to make the rankings, despite being among the 10 wealthiest people in the country. Some experts are concerned that the U.S. is in the midst of a crisis of generosity. In 2023, there was a 2.1% decline in charitable giving, according to the philanthropy research foundation Giving USA. Even more dramatically, Vox reported that 20 million fewer households donated to charity in 2016 compared to 2000. Experts cite several reasons for this decrease, including declining participation in organized religion, increased anger over failures to address inequality, and a lack of disposable income among Gen Z and Millennials. One demographic that continues to give to nonprofits, however, is the ultra-wealthy. This is particularly the case because wealthy individuals receive disproportionate benefits from the charitable tax deduction system. Experts caution, however, that relying on donations from the one percent isn't the most sustainable of money-raising strategies. 'This is a challenging time for many nonprofit organizations. They are confronting a diminishing share of Americans who donate, the effects of inflation, and, most recently, potentially significant cutbacks in government support,' said Maria Di Mento, who directs the Philanthropy 50, in a statement. 'The Philanthropy 50 demonstrates that even America's wealthiest donors, who generously back a range of different causes and organizations, will never be able to give enough money to replace the vital role of government funding or meet the needs of the nonprofit sector.' Continue reading to learn more about the 10 most charitable individuals and couples in America. For the latest news, Facebook, Twitter and Instagram.
Yahoo
04-03-2025
- Business
- Yahoo
Michael Bloomberg tops the list of America's biggest donors for the second year in a row
For the second year in a row, former New York City mayor Michael Bloomberg gave the most to charitable causes, according to the Chronicle of Philanthropy's exclusive Philanthropy 50 list of the Americans who donated the largest sums to nonprofits last year. In 2024, he gave a total of $3.7 billion to support arts, education, the environment, public-health groups, and programs aimed at improving city governments. He gives directly to charities and through his Bloomberg Philanthropies, which last year awarded a $1 billion grant to his alma mater, Johns Hopkins University, to make medical school free and to provide financial aid to nursing and public health students. 'I've never understood people who wait until they die to give away their wealth. Why deny yourself the satisfaction?' he wrote in an email to the Chronicle. 'I've been very lucky, and I'm determined to do what I can to open doors for others and to leave a better world for my children and grandchildren.' See for yourself — The Yodel is the go-to source for daily news, entertainment and feel-good stories. By signing up, you agree to our Terms and Privacy Policy. Bloomberg was one of six donors who gave $1 billion or more in 2024. The others were Netflix co-founder Reed Hastings and his wife, Patty Quillin (No. 2), Dell Technologies founder Michael Dell and his wife, Susan Dell (No. 3), investor Warren Buffett (No. 4), Facebook co-founder Mark Zuckerberg and his wife, physician Priscilla Chan (No. 5), and retired professor Ruth Gottesman (No. 6). The majority of those gifts went to foundations and donor-advised funds that support causes including education, economic mobility, social justice, and scientific research. Gottesman, like Bloomberg, gave to make medical school free. She donated $1 billion to the Albert Einstein College of Medicine. Together the 50 donors on the list contributed a total of $16.2 billion to charity in 2024. The median amount they gave was $100 million. While those numbers are sizable, not all of the nation's wealthiest people appear on the list. Only 19 of the richest Americans on the Forbes 400 list donated enough to appear in the Philanthropy rankings. Among those who gave big — but are less well known: — Thomas Golisano, the billionaire founder of Paychex, is No. 8. He gave away $500 million last year. Almost $400 million of that went to 123 nonprofits in New York and Florida with no strings attached. About 90 of those gifts were $1 million to $5 million, often to small groups that rarely get contributions of that size. Many were to organizations that serve people with developmental, intellectual, and physical disabilities. The issue has great meaning to Golisano, whose son has a developmental disability. — Retired insurance executive Hyatt Brown and his wife, Cici, at No. 20, gave the Museum of Arts & Sciences, in Daytona Beach, Fla., $150 million for a new building and to turn its current home into a children's museum. — Businesswoman and venture capital investor Michele Kang, at No. 28, gave $84 million last year, including $4 million to help the USA Women's Rugby Sevens team prepare for the Olympics. Some big public debates have been swirling in the world of philanthropy. Some donors — most notably hedge-fund billionaire Bill Ackman — pushed back against the institutions they have supported, criticizing universities' responses to the October 7 attacks in Israel and campus protests against the war in Gaza; critiquing diversity, equity, and inclusion programs; demanding changes; and pledging to halt support. Some philanthropists believe that politicized public debates about giving are unhelpful noise that can get in the way of doing effective work. K. Lisa Yang (No. 34), a retired investment banker, gave $74.5 million this year, much of that to MIT and Cornell University, where she is a trustee. Over the years, Yang has given large sums to programs that help people who are physically or cognitively disabled, and she advocates for individuals with disabilities and autism-spectrum disorders. 'The people who are suffering from these disorders, they don't have the luxury of time,' she says. 'When you have a rare disease and they do politics, to the people who are suffering from the disorder, it is totally irrelevant. They're still suffering.' But some donors are loath to get ensnared in high-profile polarizing issues, says Renee Kaplan, CEO of the donor advisory firm Forward Global. As a result, she says, some donors are staying out of the fray by making anonymous gifts. Others are working together in donor collaboratives, both to boost their power and resources and to shield individual contributors from criticism. Donors are starting to say, 'I'll do more anonymously. I'm not going to put my name on things. I'm going to slow down our foundation for a while because I'm worried I'll be a target,' Kaplan says. 'I think there's genuine concern and pause and fear that's affecting donors.' This year's list marks the 25th anniversary of the Philanthropy 50 ranking. Buffett was the top donor over that period, with cumulative gifts totaling $49.4 billion. Microsoft co-founder Bill Gates and Melinda French Gates followed, with the $34 billion they gave together. (Since their divorce, both have appeared on the list individually.) Bloomberg, Jeff Bezos, and Elon Musk round out the top five. Buffett, Gates and French Gates, and Bloomberg together account for roughly one-third of the $314.5 billion in giving by Philanthropy 50 donors since 2000. The biggest gift made during that time is Buffett's 2006 pledge to the Gates Foundation, valued at the time at $36.1 billion. _____ Associated Press coverage of philanthropy and nonprofits receives support through the AP's collaboration with The Conversation US, with funding from Lilly Endowment Inc. The AP is solely responsible for this content. For all of AP's philanthropy coverage, visit
The Hill
04-03-2025
- Business
- The Hill
Michael Bloomberg tops the list of America's biggest donors for the second year in a row
For the second year in a row, former New York City mayor Michael Bloomberg gave the most to charitable causes, according to the Chronicle of Philanthropy's exclusive Philanthropy 50 list of the Americans who donated the largest sums to nonprofits last year. In 2024, he gave a total of $3.7 billion to support arts, education, the environment, public-health groups, and programs aimed at improving city governments. He gives directly to charities and through his Bloomberg Philanthropies, which last year awarded a $1 billion grant to his alma mater, Johns Hopkins University, to make medical school free and to provide financial aid to nursing and public health students. 'I've never understood people who wait until they die to give away their wealth. Why deny yourself the satisfaction?' he wrote in an email to the Chronicle. 'I've been very lucky, and I'm determined to do what I can to open doors for others and to leave a better world for my children and grandchildren.' Bloomberg was one of six donors who gave $1 billion or more in 2024. The others were Netflix co-founder Reed Hastings and his wife, Patty Quillin (No. 2), Dell Technologies founder Michael Dell and his wife, Susan Dell (No. 3), investor Warren Buffett (No. 4), Facebook co-founder Mark Zuckerberg and his wife, physician Priscilla Chan (No. 5), and retired professor Ruth Gottesman (No. 6). The majority of those gifts went to foundations and donor-advised funds that support causes including education, economic mobility, social justice, and scientific research. Gottesman, like Bloomberg, gave to make medical school free. She donated $1 billion to the Albert Einstein College of Medicine. Together the 50 donors on the list contributed a total of $16.2 billion to charity in 2024. The median amount they gave was $100 million. While those numbers are sizable, not all of the nation's wealthiest people appear on the list. Only 19 of the richest Americans on the Forbes 400 list donated enough to appear in the Philanthropy rankings. Among those who gave big — but are less well known: — Thomas Golisano, the billionaire founder of Paychex, is No. 8. He gave away $500 million last year. Almost $400 million of that went to 123 nonprofits in New York and Florida with no strings attached. About 90 of those gifts were $1 million to $5 million, often to small groups that rarely get contributions of that size. Many were to organizations that serve people with developmental, intellectual, and physical disabilities. The issue has great meaning to Golisano, whose son has a developmental disability. — Retired insurance executive Hyatt Brown and his wife, Cici, at No. 20, gave the Museum of Arts & Sciences, in Daytona Beach, Fla., $150 million for a new building and to turn its current home into a children's museum. — Businesswoman and venture capital investor Michele Kang, at No. 28, gave $84 million last year, including $4 million to help the USA Women's Rugby Sevens team prepare for the Olympics. Some big public debates have been swirling in the world of philanthropy. Some donors — most notably hedge-fund billionaire Bill Ackman — pushed back against the institutions they have supported, criticizing universities' responses to the October 7 attacks in Israel and campus protests against the war in Gaza; critiquing diversity, equity, and inclusion programs; demanding changes; and pledging to halt support. Some philanthropists believe that politicized public debates about giving are unhelpful noise that can get in the way of doing effective work. K. Lisa Yang (No. 34), a retired investment banker, gave $74.5 million this year, much of that to MIT and Cornell University, where she is a trustee. Over the years, Yang has given large sums to programs that help people who are physically or cognitively disabled, and she advocates for individuals with disabilities and autism-spectrum disorders. 'The people who are suffering from these disorders, they don't have the luxury of time,' she says. 'When you have a rare disease and they do politics, to the people who are suffering from the disorder, it is totally irrelevant. They're still suffering.' But some donors are loath to get ensnared in high-profile polarizing issues, says Renee Kaplan, CEO of the donor advisory firm Forward Global. As a result, she says, some donors are staying out of the fray by making anonymous gifts. Others are working together in donor collaboratives, both to boost their power and resources and to shield individual contributors from criticism. Donors are starting to say, 'I'll do more anonymously. I'm not going to put my name on things. I'm going to slow down our foundation for a while because I'm worried I'll be a target,' Kaplan says. 'I think there's genuine concern and pause and fear that's affecting donors.' This year's list marks the 25th anniversary of the Philanthropy 50 ranking. Buffett was the top donor over that period, with cumulative gifts totaling $49.4 billion. Microsoft co-founder Bill Gates and Melinda French Gates followed, with the $34 billion they gave together. (Since their divorce, both have appeared on the list individually.) Bloomberg, Jeff Bezos, and Elon Musk round out the top five. Buffett, Gates and French Gates, and Bloomberg together account for roughly one-third of the $314.5 billion in giving by Philanthropy 50 donors since 2000. The biggest gift made during that time is Buffett's 2006 pledge to the Gates Foundation, valued at the time at $36.1 billion. Associated Press coverage of philanthropy and nonprofits receives support through the AP's collaboration with The Conversation US, with funding from Lilly Endowment Inc. The AP is solely responsible for this content. For all of AP's philanthropy coverage, visit
