These business titans are America's top philanthropists
Michael Bloomberg, Nike Founder Phil Knight and Michael Dell are among those who donated $11.9B to charity in 2023
Former New York City Mayor Michael Bloomberg gained a new title. He became the biggest philanthropist of the year, donating $3 billion to support various causes throughout the world in 2023, according to the Chronicle of Philanthropy.
The Chronicle of Philanthropy calculates an annual list of 50 Americans who donated the largest sums to nonprofits and there were several notable names, from Berkshire Hathaway's Warren Buffett to Home Depot co-founder Bernie Marcus, that made the list in 2023.
In total, they contributed $11.9 billion to charity throughout the year.
Michael Bloomberg attends a presentation of the Industrial Transition Accelerator during day two of the high-level segment of the UNFCCC COP28 Climate Conference at Expo City Dubai on Dec. 2, 2023 in Dubai, United Arab Emirates. (Sean Gallup/Getty Images / Getty Images)
On an individual basis, Bloomberg surpassed them all with his donations supporting the arts, education, environment and public health. He also donated to programs aimed at improving city governments around the world.
HOME DEPOT CO-FOUNDER BERNIE MARCUS REFLECTS ON A LIFE OF HELPING OTHERS
Still, Nike founder Phil Knight and his wife, Penny, were not far behind. They donated $1.24 billion of their fortune to support the University of Oregon and an ambitious poverty-fighting effort in Portland.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| DELL | DELL TECHNOLOGIES INC. | 125.06 | +0.15 | +0.12% |
| NKE | NIKE INC. | 94.12 | +0.18 | +0.19% |
Dell CEO Micheal Dell and his wife, Susan, gave nearly $976 million to their charitable funds, which work to distribute the gifts to an array of charities.
Phil Knight gestures during the second half of the game between the Texas Tech Red Raiders and the Oregon Ducks at Jones AT&T Stadium on Sept. 9, 2023 in Lubbock, Texas. (John E. Moore III/Getty Images / Getty Images)
According to the Bloomberg Billionaires Index, Dell's fortune surpassed $100 billion, bringing him within the top 13 richest people in the world. Knight's fortune sits at just over $40 billion, according to the index.
FORMER GM CEO, HOME DEPOT CO-FOUNDER ARE DEEPLY INVESTED IN THIS PHILANTHROPIC INITIATIVE
Michael Dell speaks onstage during the 2022 SXSW Conference and Festivals at Hilton Austin on March 14, 2022 in Austin, Texas. (Diego Donamaria/Getty Images for SXSW / Getty Images)
Meanwhile, Buffet, who is the 7th wealthiest person in the world, according to the index, donated approximately $893 million to organizations.
Philanthropist Melinda French Gates donated over $249 million to various charities, placing her at number nine on the list. Bill Gates donated over $173 million, placing him 16th on the list.
WARREN BUFFETT'S LIFE LESSONS TO HIS CHILDREN
Priscilla Chan and Mark Zuckerberg gave over $94 million, putting them at number 28.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| META | META PLATFORMS INC. | 443.29 | +1.91 | +0.43% |
| BRK.B | BERKSHIRE HATHAWAY INC. | 401.89 | -3.11 | -0.77% |
To calculate the list, the Chronicle talked to dozens of nonprofits, philanthropists, and their representatives about large donations that were made public last year, in addition to donors who gave quietly.
GET FOX BUSINESS ON THE GO BY CLICKING HERE
It looks into the gifts and pledges of cash, stock, land, and real estate to nonprofit organizations in 2023.
Since major donates are not required to publicly disclose the details about their giving, some major donors may not appear on this list, according to the Chronicle.