AP Photo/Marty Lederhandler
- Philanthropy is the most popular hobby among billionaires, according to Wealth-X’s 2019 Billionaire Census.
- Education and the arts are among billionaires’ favorite causes to donate to, Wealth-X reports.
- Organizations fighting hunger and homelessness receive fewer donations from the world’s wealthiest people.
- Visit Business Insider’s homepage for more stories.
Philanthropy is billionaires’ favorite pastime, but the world’s richest people don’t support all causes equally, according to Wealth-X’s 2019 Billionaire Census.
The causes they choose are influenced by a variety of factors. American billionaires traditionally fund new buildings or departments at their alma maters, Wealth-X reported, while some billionaires prefer to donate to causes that will land them in the public eye, like the arts and public affairs.
Read more: The 10 most common hobbies among the richest people in world, from aviation to real estate
Keep reading to learn the top 10 causes billionaires donate to, ranked from least popular to most popular. Numbers do not add up to 100% because billionaires donate to more than one cause.
T10. Housing and shelter
REUTERS/Clodagh Kilcoyne
Percentage of billionaire population donating to cause: .01%
Jeff Bezos is one of only 0.1% of billionaires who make donations to provide shelter for those experiencing homelessness, according to Wealth-X. Business Insider previously reported that Bezos’s Day One Fund pledged $2 billion to organizations fighting family homelessness.
T10. Food, agriculture, and nutrition
Reuters/ Brendan McDermid
Percentage of billionaire population donating to cause: .01%
Hedge fund billionaire David Tepper is among only 0.1% of billionaires worldwide who financially support organizations focused on feeding the hungry, according to Wealth-X. Tepper set up a donation drive for the Community Food Bank of New Jersey in 2010, The Wall Street Journal reported. Tepper personally pledged $2 million.
T8. Public affairs
INETeconomics / YouTube
Percentage of billionaire population donating to cause: 12.4%
Former hedge-fund manager George Soros is among 12.4% of billionaires worldwide who donate to organizations that focus on public affairs, according to Wealth-X. Soros’ nonprofit, Open Society Foundations, aims to on support democracy through grants for projects in human rights and criminal justice, journalism, and other fields, according to its website.
Business Insider previously reported that Soros is also a major donor to liberal politicians, having spent $25 million during the 2016 presidential election to support former Secretary of State Hillary Clinton.
See the rest of the story at Business Insider
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Source: Business Insider – trogers@businessinsider.com (Taylor Nicole Rogers)