$15B from Gates, French Gates tops 2021 gift list
It was a healthy year for big gifts to charitable causes in 2021, a year that saw one of the largest multibillion-dollar contributions in more than a decade, according to a Chronicle of Philanthropy tally.
The power philanthropists Bill Gates and Melinda French Gates announced in May that they were divorcing and then gave a jaw-dropping $15 billion to their foundation in July. The money will bolster its endowment and support the grant maker’s work in global health, development, policy and advocacy, and U.S. education well into the future.
The gift increased the grant maker’s endowment to about $65 billion and is the Gateses’ biggest infusion of money into the foundation since 2000, when they transferred Microsoft stock then valued at $20 million.
When they announced this year’s gift, the two philanthropists indicated they planned to continue running the foundation together for the time being but announced through the foundation that if after two years either one of them decides not to work together, then French Gates will resign as co-chair and trustee.
Regardless, the philanthropists made clear in two new Giving Pledge letters that they both intend to keep giving big in the years ahead.
French Gates wrote that she will continue to support efforts to fight poverty and “advance equality for women and girls and other marginalized groups.” Gates wrote in his Giving Pledge letter that the work of the foundation will continue to be his “top philanthropic priority” and that he plans to increase his giving in other areas like “mitigating climate change and tackling Alzheimer’s.”
Nonprofits that focus on those causes are likely to reap big rewards, given that Bill Gates’s net worth is pegged at about $137 billion and Melinda French Gates’s at $6 billion.
The Chronicle’s annual top 10 list of the largest gifts announced by individuals or their foundations totaled more than $18.1 billion in 2021. (The 2021 list actually includes 11 donations because of ties.) The contributions on the 2021 list went primarily to well-established institutions. Eight of the 11 gifts are from billionaires whose cumulative wealth totals $426.3 billion.
The Chronicle’s annual rankings are based on the 10 biggest publicly announced gifts. The tally does not include contributions of artwork or gifts from anonymous donors. In February, the Chronicle will unveil its annual ranking of the 50 biggest donors, a list based on individuals’ total contributions in 2021 rather
than single gifts.
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The Chronicle of Philanthropy’s Top 10 List of Biggest Gifts
1. Bill Gates, co-founder of Microsoft, and Melinda French Gates, founder of Pivotal Ventures, an investment firm, gave $15 billion to Bill & Melinda Gates Foundation for endowment
2. (tie) Philip Knight, co-founder of Nike, and his wife, Penny gave $500 million to University of Oregon to expand the Phil and Penny Knight Campus for Accelerating Scientific Impact
2. (tie) George Soros, chairman of Soros Fund Management, through his Open Society Foundations gave $500 million to Bard College for endowment
4. Patrick Ryan, founder of Ryan Specialty Group, an insurance services company, and his wife, Shirley gave $480 million to Northwestern University for a variety of programs
5. Denny Sanford, chairman of United National Corporation Sanford Health, gave $350 million to establish a virtual-care hospital
6. Denny Sanford, chairman of United National Corporation Sanford Health, gave $300 million for graduate medical education and to expand a sports complex
7. William Goodwin Jr., a real-estate developer, his wife, Alice, and their late son, Hunter, gave $250 million to establish Break Through Cancer, a foundation that will support cancer research
8. Joe Tsai, co-founder of Alibaba Group, and Clara Wu Tsai, co-owner of professional sports teams, through their Joe and Clara Tsai Foundation, gave $220 million to establish the Wu Tsai Human Performance Alliance, a medical research nonprofit
9. Jeff Bezos, founder of Amazon gave $200 million to Smithsonian Institution’s National Air and Space Museum for an education center and museum renovations
10. Gerald Chan, co-founder of Morningside Group, an investment firm, through his Morningside Foundation gave $175 million to University of Massachusetts Chan Medical School for endowment
This article was provided to The Associated Press by the Chronicle of Philanthropy. Maria Di Mento is a writer at the Chronicle. The AP and the Chronicle receive support from the Lilly Endowment for coverage of philanthropy and nonprofits. The AP and the Chronicle are solely responsible for all content.