Navigating charity fundraising in the changing wealth landscape
The global economy is changing rapidly amid shifting trade policies, geopolitical conflicts, funding cuts, and more. As long-standing economic dynamics are undermined or dismantled, the impact is casting a long shadow of uncertainty in the forecast. Understandably, many in the nonprofit sector now worry about the future of charitable giving.
Fortunately, the numbers show a much brighter outlook than news headlines. According to Altrata’s data, the philanthropic engine not only continues to run, but in many ways, it’s picking up speed. Despite the challenges, well-informed fundraisers can expect charitable contributions from the world’s most affluent individuals to reach new heights. Here’s what you need to know about the state of giving in 2025.
Wealth is growing
Over one third of all charitable contributions in the world come from individuals. That includes a population of high net worth philanthropists, which is not only growing in membership, but in the amount of wealth they have to give. According to Altrata’s World Ultra Wealth Report 2024, the number of ultra high net worth (UHNW) individuals globally rose by 7.6% in 2023, reaching a record population of 426,330 individuals. Collectively, their wealth increased by 7.1% to $49.2 trillion.
Despite economic headwinds, the wealthy are not just accumulating assets—they’re actively donating them.
North America continues to lead in the highest level of wealth concentration. In fact, in 2023 alone, North America’s ultra wealthy population grew by 11.9% to 161,280 individuals, representing 37.8% of the global total with a staggering $18.6 trillion in assets. Europe saw strong gains that same year, with a 9.4% increase to 111,540 UHNW individuals. Though Asia only grew by a modest 3% to 110,630 individuals, their $12.3 trillion in assets can provide ample resources to worthy causes and contribute to the growing expansion of philanthropy beyond North America and Europe.
Wealth is moving
As asset values for the world’s ultra wealthy reach all-time highs, so does the inevitability of demographic shifts in the population. Currently, the vast majority of wealth is health by some 2.4 million high net worth Baby Boomers, and 645,000 members of the Silent Generation. But as these populations continue to age, they’re expected to pass that wealth on to their heirs.
Altrata’s Wealth Transfer Report 2024 projects that around 1.2 million individuals with $5 million or more will pass down a staggering $31 trillion in assets by 2033. That figure exceeds the current GDP of the United States and dwarfs the market capitalization of even the largest tech giants.
This unprecedented transfer of assets has the potential to revolutionize philanthropy. Generation X is first in line to inherit, and their philanthropic priorities are drastically different from their predecessors’. While not as well-known as Millennials and Gen Z for an interest in charity, research shows they take a much more active role in philanthropy than any previous generation.
A recent conversation with Altrata’s VP of Philanthropy, Valentina Guerrini, Global Philanthropic’s Founder & CEO, Ben Morton Wright, and the org’s Executive Director for Europe and Asia, explored Gen X’s unique prioritization of making measurable impact through giving, and even incorporating charity into their business endeavors. Altrata’s researchers found Generation X individuals with $5 million or more in assets are particularly interested in education, arts and culture, and social services. This cohort, which makes up 31% of all HNWIs in the U.S., will soon be among the most powerful philanthropic forces in the world.
What’s more, wealthy families are increasingly choosing to transfer wealth during the lifetime of the senior generation, prompting early engagement and philanthropy planning. Fundraisers can play a crucial role in driving dialogue about the role of philanthropy in that wealth transfer.
The wealthy are giving
Despite economic headwinds, the wealthy are not just accumulating assets—they’re actively donating them. The Charities Aid Foundation (CAF) High Value Giving Report, released in February 2025, shows promising numbers from the UK on par with global trends.
The wealthiest 0.01%—about 5,500 individuals—hold a combined £548 billion in investable assets. This same population donated nearly £8 billion to charitable causes in 2023, alone. As wealth continues to grow, as well as change hands to more charitably engaged heirs, there’s potential to dwarf current donation statistics. In fact, the UK’s total high-net-worth population donated just 1% of their combined current assets, it would generate £12 billion in additional funding for charities.
Climate change is taking center stage
For decades, wealthy philanthropists have focused on education as their leading causing to support. While this remains a top cause among the next generation of donors, environmental efforts are attracting a growing volume of donations.
Research by the ClimateWorks Foundation saw environmental philanthropy surge by 20% in 2023, driving $9.3 to $15.8 billion to climate causes. Though this represented less than 2% of total $810 billion in philanthropic giving in 2023, these numbers indicate a positive future for environmental charity.
High net worth philanthropists are already aligning their existing charitable infrastructure to maximize impact in the climate space. Currently, over 90 of the world’s largest foundations—the backbone of strategic giving—now fund climate initiatives. Family offices are increasingly blending climate philanthropy with investment. This integrated approach is emerging as a leading strategy to fund systemic solutions, exemplified by initiatives like the Family Office for Sustainable Development (FOSD).
In alignment with corporate social responsibility (CSR) goals, corporate giving is quickly gaining momentum as a vehicle for climate philanthropy. The IKEA and Rockefeller foundations launched a $1 billion platform to expand renewable energy access, while Bloomberg Philanthropies has committed hundreds of millions specifically to climate and ocean causes.
A study by Rockefeller Philanthropy Advisors found that 4 out of 5 philanthropy leaders expect climate change to become the leading charity cause in the coming decade, especially as the Great Wealth Transfer goes underway. PMW reports that Millennials and Gen Z philanthropists are twice as likely as older donors to support environmental causes, viewing climate action as a priority for societal wellbeing.
Navigate change with donor data
Despite so much upheaval, 2025’s philanthropy landscape is not defined by fear or hesitation, but by momentum and transformation. Wealth is not just growing—it’s moving, and it’s being used with greater clarity of purpose. From education to the environment, today’s high-net-worth individuals—especially the next generation—are reshaping what it means to give.
As the giving landscape continues to evolve, fundraisers who are best informed will be better positioned to lead. Organizations with up-to-date and reliable insight into potential donors will have competitive advantage when it comes to both outreach and engagement. Finding a way to efficiently gather intel is critical.
Altrata provides the most essential intelligence and insight on business leaders, the global wealthy and well-connected. The leading commercial, philanthropic, and educational institutions depend on Altrata solutions to meet their growth objectives. Clients partner with Altrata to confidently engage with exceptional individuals and organizations, create meaningful relationships and seize strategic opportunities.
Global Philanthropic combines insight and experience to deliver specialist advice and guidance to Corporations, Philanthropists and Fundraisers. We are ambitious for our clients, helping them to see the potential for greater impact, or bigger outcomes.