Jamsetji Tata, known for his ventures within the cotton and pig iron industry, set up Tata Iron and Steel Works Company (TISCO) in Jamshedpur, now known as Tata Steel in Jamshedpur. Founded in 1907, Tata Steel now operates in 26 countries including India, Netherlands and United Kingdom, and employs around 80,500 people, according to reports.
“The total philanthropic value of Tata is made up of 66 per cent of Tata Sons, estimated at $100 billion, solely based on the value of listed entities,” the EdelGive Hurun Philanthropists of the Century report said. CLICK HERE FOR THE TOP 10 LIST
Wipro's Premji, on the other hand, agreed to give away at least half of his wealth by signing the Giving Pledge in 2013. He started with a $2.2 billion donation to the Azim Premji
Foundation, which focused on education in India. He topped the EdelGive Hurun India Philanthropy
List for 2020.
Around the world
The world’s 50 most generous individuals in the last century came from five countries, according to the EdelGive Hurun report, overwhelmingly led by the US with 39, followed by 5 from the UK, China (3), India (2) and Portugal & Switzerland (1 each). Their donations amounted to $832 billion, of which $503 billion are in foundations today and $329 billion have been disbursed in the last century.
“It is surprising that Jeff Bezos and Elon Musk have not made the cut in this list. The stories of the world’s biggest philanthropists of the last century tells the story of modern philanthropy.
The legacies of the world’s earliest billionaires such as Carnegie and Rockefeller, through to the Bill Gates
and Warren Buffett’s of today, show how wealth created has been redistributed,” said Rupert Hoogewerf, chairman and chief researcher of Hurun Report.
Adding: “Many of the philanthropists made the donation in the second generation rather than the first, such as the story of the Ford Foundation, which was set up by the son of Henry Ford.”
The top 50 individuals, according to the report, collectively contributed $30 billion, or 6 per cent, of their total endowments as annual grants. With $8.5 billion donations, MacKenzie Scott is the biggest annual grant maker followed by Warren Buffett
($2.7 billion) and Bill & Melinda Gates ($2.5 billion).
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