Philanthropy has stepped on the accelerator in terms of becoming a global phenomenon. The amount of charitable donations going overseas and to US-based international programs has doubled since 2003, according to the Foundation Center.
The rise of philanthropy among the world’s wealthiest in the most recent Forbes survey of the top philanthropists now includes individuals from India (Azim Premji), Mexico (Carlos Slim), China (Li Ka-shing), Germany (Dietmar Hopp and Klaus Tschira), and Switzerland (Steven Schmidheiny). This is yet another example of the global nature of philanthropy now.
It is no coincidence that the rise of global philanthropy mirrors the growth of the millennial generation. Millennials are more connected, cognizant, and committed to tackling society’s ongoing challenges of a global scope than any generation before them. Technology and social media certainly facilitates the increase in connectedness and knowledge – and millennials have grown up in an age where the Internet has always existed. Philanthropy increasingly reflects this changing worldview as well.
Global philanthropy is no longer only writing a check or making a grant and sitting back to wait for the results–it is becoming much more involved than that. Global philanthropy is drawing from the best of the sectors, and collaborating to find solutions.
Council on Foundations