Today Altrata, the leader in data and insights on the wealthy and influential, released Ultra High Net Worth Philanthropy 2024. This latest global philanthropy report – the first edition published by Altrata and the seventh powered by Wealth-X data – provides unique and detailed insights on donor activity, primarily by the world’s ultra high net worth (UHNW) population; those with a net worth of $30m or more. These ultra wealthy individuals account for a considerable and growing share of total individual giving.
Ultra High Net Worth Philanthropy 2024 not only investigates the growth and trends of philanthropic giving by UHNW individuals around the world, but also highlights the challenges facing fundraisers and the evolving strategies they are employing to meet the needs of the current environment.
Impactful insights from the report include:
- Total philanthropic giving by individuals, institutions, and public foundations globally reached a monumental $810 billion in 2022
- Donations from the ultra wealthy account for 38% of all individual giving
- North America continues to set the trend for philanthropic giving, accounting for nearly half of all UHNW giving, totaling more than $91 billion in donations
- Wealthy women are more likely to have a high affinity for giving
- Education attracts the largest share of ultra wealthy donations, this is true of the elite US universities, which continue to attract – and produce – a high proportion of the world’s ultra wealthy
Against the backdrop of an era of historic wealth generation and a growing list of societal and environmental challenges, giving by the wealthy has become an increasingly important focus for fundraising among organizations across the non-profit and education sectors.
The report also sheds light on the growing significance of private charitable foundations; almost one in five UHNW individuals have a private foundation. This share increases to almost 30% among those with a net worth exceeding $100 million.
Ultra High Net Worth Philanthropy 2024 also leverages Altrata’s Wealth-X data to identify the common characteristics of UHNW donors based on their affinity to give. This provides valuable insights for prospect researchers and fundraisers to develop targeted and highly effective engagement tactics that fuel major gift strategies.
To access the complete findings, download Ultra High Net Worth Philanthropy 2024 today.
About Altrata
Altrata is the global leader in people intelligence providing insight on the individuals who have the most impact on their clients’ success. Altrata’s advanced solutions allow deeper insight and access to billions of connections helping clients close more deals, manage risk, and identify top talent quickly. Altrata’s global dataset contains millions of individual profiles on the wealthy, senior decision makers, board members, and C-suite leaders. Altrata offers actionable, accurate and comprehensive data maintained by a global team of in-house researchers committed to surfacing the right insight at the right time to drive positive business outcomes.
Altrata is a registered trademark of Delinian Limited and its affiliated companies, and is comprised of five dynamic offerings: BoardEx, Boardroom Insiders, RelSci, WealthEngine, and Wealth-X.
This press release was originally posted on PR Newswire on March 14, 2024.