Amazon’s Bezos tops list of richest charitable gifts in 2020

SILVER SPRING, Md. (AP) — The world’s richest individual made the single-largest charitable contribution in 2020, in accordance with The Chronicle of Philanthropy’s annual list of top donations, a $10 billion reward that’s supposed to assist combat local weather change.

Amazon’s founder and CEO, Jeff Bezos, whose “real-time” worth Forbes magazine estimates at roughly $188 billion, used the contribution to launch his Bezos Earth Fund. The fund, which helps non-profits concerned within the local weather disaster, has paid out $790 million to 16 teams up to now, in accordance with the Chronicle.

Setting apart Bezos’ whopping reward, although, the sum complete of the highest 10 donations final yr — $2.6 billion — was the bottom since 2011, at the same time as many billionaires vastly elevated their wealth within the inventory market rally that catapulted know-how shares particularly final yr. According to the left-leaning Americans for Tax Fairness and the Institute for Policy Studies, from March 18 by means of Dec. 7, 2020, Bezos’ wealth surged by 63%, from $113 billion to $184 billion.

Phil Knight, who together with his spouse, Penny, made the second- and third-largest donations final yr in accordance with the Chronicle, elevated his wealth by about 77% over the identical March-to-December interval. Knight and his spouse gave greater than $900 million to the Knight Basis and $300 million to the College of Oregon.

Fred Kummer, founding father of development firm HBE Company, and his spouse, June, gave $300 million to determine a basis to assist applications on the Missouri College of Science and Expertise.

Fb’s founder Mark Zuckerberg and his spouse, Priscilla Chan, delivered the fourth-largest donation on the Chronicle’s listing: A $250 million reward to the Heart for Tech and Civic Life, which labored on voting safety points within the 2020 election. Zuckerberg, whose wealth almost doubled to $105 billion within the March-to-December interval in accordance with Individuals for Tax Equity and the Institute for Coverage Research, has been extensively criticized and been referred to as to testify earlier than Congress for his firm’s dealing with of disinformation within the runup to the 2020 presidential election.

Within the fifth spot was Arthur Clean, co-founder of House Depot, who gave $200 million by means of his basis to Kids’s healthcare of Atlanta to construct a brand new hospital.

Bezos and the Zuckerbergs made up the following spots on final yr’s prime 10 listing, with $100 million donations — Bezos for Feeding America to assist meals banks throughout the nation and the Zuckerbergs to the identical election safety group.

They had been adopted by Stephen Ross, founding father of actual property agency Associated Corporations; David Roux, co-founder of Silver Lake Companions, a private-equity agency, and his spouse, Barbara; George and Renee Karfunkel, real-estate buyers; Bernard Marcus, co-founder of House Depot; and Charles Schwab, founding father of Schwab Monetary Providers, and his spouse, Helen.

Two billionaires who donated closely to charity final yr — MacKenzie Scott, Bezos’ former spouse, and Jack Dorsey, co-founder of Twitter — didn’t make the Chronicle’s listing as a result of no single donation of theirs was giant sufficient to qualify. In February, the Chronicle will publish its listing of the 50 greatest donors, which counts cumulative donations, not particular person items.

Copyright 2021 The Related Press. All rights reserved.

Source link

Next Post