The founder of the Tata Group, Jamsetji Nusserwanji Tata, has become the greatest philanthropist in the world over the past 100 years, according to a list compiled by the EdelGive Foundation and Hurun Report.
The very first list of Edelgive Hurun India Philanthropist of the Century introduces Jamsetji Tata in front of Bill and Melinda Gates, Warren Buffet, Henry Hughes and George Soros. The list was released today to rank the most generous people in the world from the last century.
It should be noted that the ranking is based on total philanthropic value – calculated as the inflation-adjusted value of assets plus the sum of gifts or distributions made to date. The data for the report was derived from publicly available sources and in certain cases shared directly by the foundations.
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The report estimates Indian pioneering industrialist Jamsetji Tata’s donations over the past century at $ 102.4 billion. He is followed by Bill and Melinda Gates ($ 74.6 billion), Warren Buffett ($ 37.4 billion), George Soros ($ 34.8 billion) and JD Rockefeller ($ 26.8 billion).
“While American and European philanthropists have dominated philanthropy thinking for the last century, Jamsetji Tata, founder of India’s Tata Group, is the world’s greatest philanthropist,” said Rupert Hoogewerf, chairman and senior researcher at Hurun.
(Photo: @HurunReportInd)
Much of Jamsetji Tata’s donations went to education and health. He had put aside two-thirds of the property trust that was engaged in philanthropic activities. The report added that Jamsetji Tata began donating as early as 1892.
“Tata’s total philanthropic value is 66 percent of Tata Sons, valued at $ 100 billion based on the value of public companies alone,” the report said.
While Jamsetji Tata is the only Indian in the top 10 list, Azim Premji’s name is in the top 50. Premji, the former chairman of Wipro, ranks 12th on the list and has decided to give away at least half of his name through signed the Giving Pledge in 2013. It is worth noting that Pemji had previously headed the EdelGive Hurun India Philanthropy List for 2020.
Most of the people who made the list are from the United States (39), followed by the United Kingdom (5), China (3), India (2), and Portugal and Switzerland (1 each). Only 13 of the 50 philanthropists who made the list are still alive.
The total donations made by the 50 people on the list over the past century have been estimated at $ 832 billion – $ 503 billion from charities and $ 329 billion from donations.
Rupert Hoogewerf said he was surprised that the names of the richest man in the world and the third richest man Elon Musk were missing from the list.
“It’s surprising that Jeff Bezos and Elon Musk didn’t make it on this list. The stories of the world’s greatest philanthropists of the last century tell the story of modern philanthropy. The legacies of the world’s first billionaires like Carnegie and Rockefeller to today’s Bill Gates and Warren Buffetts show how the wealth created has been redistributed, “said Hoogewerf.
“Today’s billionaires are not keeping up with philanthropy and making money much faster than they are giving it away,” he added.
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