Ultra High Net Worth-Backed Foundations Distributed 8 Percent of Assets Last Year
July 29, 2015 Mark Hrywna
Private foundations established by ultra high net worth individuals (UHNW) distributed some 8 percent of their total $560 billion in total assets last year, or about $45 billion worldwide.
There are more than 5,000 UHNW-founded private foundations in the world and the largest by far is the Bill & Melinda Gates Foundation, according to Wealth-X. The market research and information services company today released its list of the top 10 largest private foundations created by UHNW individuals. Ultra High Net Worth individuals are defined as those with $30 million or more in assets.
The top 10 foundations have total assets of $83.1 billion, about 15 percent of the overall total, which represents almost a third of the combined net worth of those individuals. The collective $560 billion represents almost 20 percent of the combined net worth of those who created them. The Gates Foundation accounts for more than half of the $83.1 billion in total assets of the top 10 foundations.
Four of the top 10 foundations are located outside the United States: Li Ka Shing Foundation in Hong Kong, Sulaiman Bin Abdul-Aziz Al Rajhi Endowments in Saudi Arabia, Children’s Investment Fund and Foundation in the United Kingdom, and Carlos Slim Foundation in Mexico.
The top 10 private foundations created by UHNW individuals, by total assets, are:
- Bill & Melinda Gates Foundation, $43.4 billion;
- Li Ka Shing Foundation, $8.1 billion;
- Gordon and Betty Moore Foundation, $6.4 billion;
- Bloomberg Philanthropies, $5.4 billion;
- Children’s Investment Fund and Foundation, $4.5 billion;
- Sulaiman Bin Abdul-Aziz Al Rajhi Endowments, $4.3 billion;
- Open Society Foundation, $3.3 billion;
- Susan Thompson Buffett Foundation, $2.9 billion;
- Carlos Slim Foundation, $2.6 billion; and,
- Charles and Lynn Schusterman Family Foundation, $2.2 billion.
Wealth-X is provides sales, marketing, strategy and compliance solutions to clients in the financial services, luxury, nonprofit and education sectors. The company has more than 250 staff in 10 locations, including Singapore, London and New York.
– Mark Hrywna