Michael Bloomberg has once again secured his position as the most generous philanthropist in the U.S., according to The Chronicle of Philanthropy’s annual Philanthropy 50 list. The former New York City mayor and billionaire businessman donated an astounding $3.7 billion in 2024, marking his second consecutive year as the nation’s top donor.
Bloomberg’s contributions span multiple sectors, including education, public health, the arts, and city governance initiatives. One of his most notable donations was a $1 billion grant to Johns Hopkins University, announced in July 2024, which fully covers medical school tuition for students.
In a statement, Bloomberg underscored his belief in giving during one’s lifetime:
“I’ve never understood people who wait until they die to give away their wealth. Why deny yourself the satisfaction? I’ve been very lucky, and I’m determined to do what I can to open doors for others and leave a better world for my children and grandchildren.”
America’s Billionaire Donors Give Big
Following Bloomberg, several prominent philanthropists also contributed more than $1 billion in 2024. Reed Hastings, co-founder of Netflix, and his wife Patty Quillin secured the second spot on the list. Other major donors included Michael Dell and Susan Dell, Warren Buffett, Meta CEO Mark Zuckerberg and Priscilla Chan, and retired pediatrics professor Ruth Gottesman.
The Philanthropy 50 collectively donated an estimated $16.2 billion in 2024, with a median gift size of $100 million.
Record-Breaking Gifts in 2024
Among the standout contributions:
- Ruth Gottesman made headlines with a $1 billion donation to the Albert Einstein College of Medicine, allowing students to attend tuition-free starting in August 2024.
- Thomas Golisano, founder of Paychex, directed $500 million to over 100 nonprofits in New York and Florida, with a strong focus on supporting individuals with disabilities.
- K. Lisa Yang donated $74.5 million, primarily to MIT and Cornell University.
- Michele Kang contributed $84 million, including funding for the USA Women’s Rugby team.
The Biggest Philanthropists in History
The Philanthropy 50 list has been tracking major donations for the past 25 years, cementing the legacies of the world’s wealthiest givers.
- Warren Buffett remains the most significant donor in history, with a lifetime total of $49.4 billion in charitable giving.
- Bill Gates and Melinda French Gates follow with a combined $34 billion in lifetime donations.
- Michael Bloomberg, Jeff Bezos, and Elon Musk rank third, fourth, and fifth, respectively, in total philanthropic contributions.
As billionaire philanthropy continues to shape education, healthcare, and social programs, these high-impact donations reflect the growing trend of using wealth to drive meaningful change in society.
