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Philanthropy leader at the Giving Pledge says billionaire heirs are pushing for faster giving
Fortune • • world
Key Points:
- A new Milken Institute report highlights a generational shift in philanthropy, with younger heirs urging faster, riskier, and more community-trusted giving compared to traditional legacy-focused approaches.
- Younger generations of wealthy families are increasingly focused on systemic change through impact investing and advocacy, prioritizing issues like climate change, racial justice, and gender equity over conventional causes.
- The report cites MacKenzie Scott as a leading example of trust-based philanthropy, distributing billions in unrestricted gifts that empower communities to allocate funds as needed.
- Women are projected to inherit 56% of global wealth by 2048, potentially accelerating philanthropic transformation by adopting collaborative, solutions-oriented giving models.
- Katherine Lorenz, from an oil tycoon family foundation, emphasizes the importance of shifting decision-making power to communities and navigating complex family dynamics to sustain and evolve philanthropic legacies.
