Bill Gates and Warren Buffett were two of the year’s biggest three donors.
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As giving receded to pre-pandemic levels, most of these gifts were designated for foundations, higher education, hospitals and medical research.
Automaker Henry Ford’s name endures on the foundation formed from his fortune.
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The hefty sums many billionaires give away place them in an age-old debate about wealth and charity – and whether it’s appropriate for donors to have a say over their wealth from the grave.
Got the winning ticket?
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Squandering all that money is easier than it seems.
Patagonia has always sought to limit its environmental harm.
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Yvon Chouinard, his wife and their two adult children have given the company he founded away. From now on, its profits will fund climate and conservation work.
The company’s profits will sustain these efforts in perpetuity.
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Yvon Chouinard’s gift is unusual due to its structure but is also part of a trend. Many billionaires and large foundations are now funding these causes.
How much money would you have to win in a lottery to achieve your ideal life?
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New research shows that humans don’t necessarily have unlimited wants, and that an ‘ideal life’ costs less than you might think.
Mitchell Rales and Emily Wei Rales signed the Giving Pledge in 2018.
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More than 350 billionaires have signed on so far.
Tracking changes in net wealth is one of the best ways to see who benefited from economic growth.
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Most of the gains went to the richest Americans, but almost everyone saw an improvement in terms of net wealth.
A new Gilded Age of media barons?
Media ownership has consolidated around a handful of billionaires – and that might not be great for democracy.
Can modern society afford billionaires?
The buck stops with Boris.
Five years after David Cameron was pushing for tighter rules around disclosure of beneficial owners, nothing much has changed.
Why the super-rich are targeting the Mount Rushmore state.
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A taxation expert explains why South Dakota has become a favorite state for the ultra-rich when it comes to squirreling away their wealth.
What’s inside the box?
The latest instalment of leaks about the super-rich using offshore tax havens to hide their wealth has been published.
Several lawmakers from high-tax states like New York are pushing for changes to a key tax deduction in Democrats’ $3.5 trillion spending package.
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The 2017 tax cuts put a $10,000 cap on the deduction for state and local taxes. The richest households would see the biggest gains from eliminating or raising the cap.
U.S. Rep. Alexandria Ocasio-Cortez making a fashion statement.
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In 1950, the top 0.01% of earners paid almost 70% of their income in taxes. By 2018, the super-rich paid proportionately less than the average for all other Americans.
Tesla aims to show off a prototype humanoid robot as soon as next year.
If you see the Tesla Bot as a joke or a harbinger of a dystopian future, you could be missing the real threat, which has more to do with Elon Musk’s power than robots run amok.
Craigslist founder Craig Newmark donates millions of dollars to journalism schools as well as other causes.
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How much money it takes to attain this status varies according to the size of the nonprofit getting the gift.
CEO Warren Buffett was surrounded by press and fans when he arrived at Berkshire Hathaway’s 2019 annual shareholders meeting in Omaha, Nebraska, in May 2019.
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The investor has already given half of his $100 billion fortune to charity and he has pledged to disburse nearly all of the rest.
Amazon founder Jeff Bezos, right, watches a video playback of his flight with his new space tourism company from the spaceport near Van Horn, Texas.
(AP Photo/Tony Gutierrez)
Teaching kids better budgeting won’t fix post-pandemic inequalities. A more robust social safety net, less hoarding and squandering of wealth and more equitable tax policies might.
Recent space flights by multi-billionaires highlight the extreme economic inequality in America.
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In 1970, Gil Scott-Heron penned a spoken word song called ‘Whitey on the Moon’ that criticized the 1969 Moon landing. A hip-hop scholar explains why the song still reverberates today.