India's Tata Group founder emerges as world's biggest philanthropist

TATA GROUP founder Jamsetji Tata has emerged as the biggest philanthropist globally in the last 100 years by donating $102 billion, as per a list of top-50 givers prepared by Hurun Report and EdelGive Foundation.

Tata is ahead of others like Bill Gates and his now-estranged wife Melinda who have donated $74.6bn, Warren Buffet ( $37.4bn), George Soros ($34.8bn) and John D Rockefeller ($26.8bn), the report said.

“Whilst American and European philanthropists may have dominated the thinking of philanthropy over the last century, Jamsetji Tata, founder of India's Tata Group, is the world's biggest philanthropist," Rupert Hoogewerf, the chairman and chief researcher at Hurun said in a statement.

Setting aside two-thirds of ownership to trusts, engaged in doing good in various areas including education and healthcare, has helped Tatas to achieve the top spot in giving, he said, adding that Jamsetji Tata's giving started in 1892 itself.

The only other Indian on the list is Azim Premji of Wipro, who has virtually given his entire fortune of $22 billion for philanthropic causes.

A majority of 38 people on the list are from the US, followed by the UK (5) and China (3).

Total 37 of the donors are dead while only 13 of them are alive. The total donations by the 50 givers are pegged at $832bn over the last century, of which $503bn came from foundation endowments and $329bn from donations to date, the report said.

The annual grants by them are now topping $30bn, Hurun said, adding that with a donation of $8.5bn, MacKenzie Scott is the biggest annual grantmaker.

Hoogewerf said: "There are a few names like Alfred Nobel who are not even on the list of top 50 givers of the last century. Today's billionaires are not keeping up with philanthropy, making money much faster than they are giving it away."