NEW YORK (PRWEB) December 03, 2019
Today, Wealth-X released a new report uncovering unique information about how and where ultra high net worth (UHNW) individuals (those with a net worth of at least $30 million) choose to give. The New Normal: Trends in UHNW Giving 2019 is the fourth edition of Wealth-X’s report focused on philanthropic giving by the world’s wealthiest individuals.
As the global UHNW population has grown, so too has an increasing expectation that philanthropy should be a shared passion among wealthy individuals. The report estimates that in the U.S. alone, the ultra wealthy population accounts for between 20 and 30% of all individual giving, underscoring the great potential for non-profit organizations to meet fundraising goals by engaging a relatively a small group of major donors.
Among numerous key findings, The New Normal: Trends in UHNW Giving 2019 reveals:
- The ultra wealthy gave a total of $153 billion towards philanthropic endeavors in 2018 – roughly equivalent to all U.S. federal government spending on healthcare, education and energy expected for this year.
- At $75 billion, North America accounted for nearly half of all philanthropic gifts made by UHNW individuals, globally.
- Nearly 9 in every 10 UHNW individuals direct part of their philanthropic efforts to education, making it the leading cause of giving among ultra wealthy donors (those UHNW individuals who have donated a minimum of $50,000 over the last 5 years).
- Younger ultra wealthy donors take a more targeted approach to giving, with those under the age of 45 tending to be more passionate about one or two causes that they are both financially and practically involved with.
The manner in which the ultra wealthy engage with philanthropic causes is constantly evolving. In addition to providing unique insight into the global landscape of ultra wealthy donors, Wealth-X examines how the changing profile of philanthropists and more innovative forms of giving are creating new investment objectives, new financial products and new ways for the ultra wealthy to collaborate with not-for-profit organizations and the education sector.
Download the full report here - https://www.wealthx.com/report/uhnw-giving-philanthropy-report-2019/
The New Normal: Trends in UHNW Giving 2019 leverages Wealth-X’s proprietary Philanthropic Giving Model, as well as the organization’s global database of records on wealthy individuals – the largest of data source of its kind in the world.
The global leader in wealth information and insight, Wealth-X partners with leading prestige brands across the financial services, luxury, not-for-profit and higher-education industries to fuel strategic decision-making in sales, marketing and compliance. Wealth-X boasts the world’s most extensive collection of records on the world’s wealthiest individuals and produces unparalleled high net worth market research. Founded in 2010, with offices across North America, Europe and Asia, Wealth-X works with over 500 clients providing them with unique data, analysis, and counsel to drive business success.