In 2025, the 50 wealthiest American philanthropists and couples dedicated or pledged a remarkable US$22.4 billion to various charitable causes, including foundations, academic institutions, and healthcare facilities. This figure represents a 35% increase compared to the inflation-adjusted $16.6 billion reported in 2024, based on the Chronicle of Philanthropy’s latest annual overview of major donations.
Media mogul and former New York City Mayor Mike Bloomberg topped the Chronicle’s Philanthropy 50 list, with Microsoft co-founders Bill Gates and Paul Allen following close behind. Although Allen passed away in 2018, his estate is still in the process of being settled.
The Conversation U.S. consulted with David Campbell, Lindsey McDougle, and Hans Peter Schmitz, three experts in philanthropy and nonprofits, to evaluate the implications of these contributions and what they reveal about the current state of charitable giving in the U.S.
Emerging Philanthropic Trends
Schmitz: In 2025, significant donations were primarily directed towards higher education, hospitals, medical research, foundations, and donor-advised funds—akin to charitable savings accounts. The preference for education and health sectors among large donors echoes sentiments expressed by Andrew Carnegie in his 1889 essay, “The Gospel of Wealth,” where he famously remarked, “the man who dies rich dies disgraced.”
Campbell: The list of top donors remains largely consistent annually. Among this year’s top 20 donors, 16 have been featured at least once in the past five years, and six have appeared at least twice since 2021. Notably, Mike Bloomberg has topped the list for the third consecutive year, contributing over $4 billion in 2025, surpassing the next highest donor by more than $500 million.
Half of these 22 repeat donors have signed The Giving Pledge, publicly committing to donate the majority of their wealth during their lifetime or through their wills. Their inclusion in the list signifies progress towards fulfilling this commitment.
McDougle: The top 50 donors contributed more in 2025 than any year since 2021, but this increase is highly concentrated. Mike Bloomberg alone accounted for 19% of the $22.4 billion donated, while the top 10 donors were responsible for nearly three-quarters of the total contributions from all 50 donors.
This pattern highlights a broader trend: a small group of ultra-wealthy individuals increasingly dominates American philanthropy, which raises questions about democratic accountability and whose priorities define the public good.
Unexpected Insights from Top Donors
Schmitz: It’s surprising that MacKenzie Scott did not make the list, despite her claims of donating $7.1 billion in 2025. Had she met the Chronicle of Philanthropy’s criteria, she would have topped the list. Unfortunately, Scott has not provided sufficient information since becoming a prominent donor after her 2019 divorce from Amazon founder Jeff Bezos.
Campbell: The Trump administration’s defunding of the U.S. Agency for International Development was a major event in 2025. Some wondered if wealthy donors would step in to fill the gap. Jacklyn and Miguel Bezos, for instance, pledged $500 million to UNICEF, but few other donors prioritized international development or foreign aid.
These donors’ responses to research funding cuts are unclear. However, some, like Sergey Brin, donated $50 million to the Michael J. Fox Foundation for Parkinson’s research, and Phil and Penny Knight committed $2 billion to the Oregon Health & Science University’s Knight Cancer Institute.
McDougle: It’s noteworthy that no women made the Philanthropy 50 list independently. Women only appear as part of a couple, family, or joint giving structure with male donors. In contrast, there are 24 male donors listed independently.
Last year, several women were solo donors, including two in the top 10. This mirrors broader wealth disparities, as approximately 86% of U.S. billionaires are men according to the Forbes’ Real-Time Billionaires list.
Concerns Regarding the List
Schmitz: It is concerning that the list excludes donors like MacKenzie Scott while including wealthy donors with ethical issues, such as businessman Denny Sanford. Despite signing the Giving Pledge in 2010, Sanford was removed from it in 2023 following an investigation for alleged possession of child pornography. Although no charges were filed, he ranked 14th among the top donors of 2025.
Bill Gates, another major donor, faced reputational damage after apologizing for his ties to Jeffrey Epstein. The Chronicle of Philanthropy should consider ethical concerns when compiling this annual list.
Campbell: It’s surprising that only 19 of the top 50 donors are also on the Forbes 400, which lists the richest Americans. Given their wealth, I expected more of them to be among the top givers. This suggests that philanthropy is a higher priority for some than others, which I find disappointing.
Predictions for Future Giving
Campbell: We are in a politically volatile period, with heightened concerns about democratic backsliding in the U.S. Some donors prioritize strengthening democracy, like Pierre and Pam Omidyar and Arthur Blank through his foundation. I anticipate this issue will become a higher priority among major donors in 2026.
McDougle: Demographics will also play a role. Many top donors are in their 60s or older, and philanthropy may be impacted by an impending intergenerational wealth transfer. Experts estimate that tens of trillions of dollars will pass from older Americans to younger generations. This shift could significantly affect large-scale giving. Surveys indicate younger donors often have different priorities than older ones, which could reshape elite philanthropy.
