The business magazine examined the 400 individuals’ charitable giving and assigned each one a philanthropy score, ranging from 1 to 5. To calculate the scores, researchers added the value of each billionaire’s out-the-door lifetime giving estimate — rather than cash sitting in their private foundations or DAFs that may not have made it to those in need — to their 2023 Forbes 400 net worth. They then divided their lifetime giving by that sum. Two thirds of the billionaires on The Forbes 400 scored a 1 or 2, meaning they have given less than 5% of their fortune to charity. See the accompanying gallery for the 11 Forbes 400 individuals scoring a 5, having given 20% or more to charity, per Forbes’ estimates.

Source: Forbes October 14, 2023 05:04 UTC