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Jamsetji Tata named greatest philanthrope of last century

Apart from Jamsetji Tata, another Indian -- former Wipro chairman Azim Premji – has also featured in the 2021 Philanthropists of the Century; he secured the 12th rank.

June 23, 2021 / 05:13 PM IST
Jamsetji Tata (Image: Tata.com)

Jamsetji Tata (Image: Tata.com)

Tata Group founder Jamsetji Nusserwanji Tata has been named the greatest philanthropist of the century. The late Indian industrialist topped the inaugural list of philanthropes released by EdelGive Foundation and Hurun Research India.

The 2021 Philanthropists of the Century ranked the world’s most generous persons from the last century in their first report and Jamsetji Tata is the only Indian national who featured in the top 10 list, India CSR reported.

Jamsetji Tata was followed by Bill Gates and Melinda French Gates, Henry Wellcome, Howard Hughes, and Warren Buffett.

The Philanthropists of the Century report pegs the current value of Tata’s donations – mostly to boost education and healthcare -- at $102.4 billion.

As per the EdelGive Hurun Philanthropists of the Century report: “The total philanthropic value of Tata is made up of 66 percent of Tata Sons, estimated at $100 billion, solely based on the value of listed entities.”

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Apart from Jamsetji Tata, another Indian -- former Wipro chairman Azim Premji – is also featured in the 2021 Philanthropists of the Century; he secured the 12th rank.

Azim Premji had topped the EdelGive Hurun India Philanthropy List for 2020. The former Wipro head had agreed to part with half of his wealth by signing the Giving Pledge in 2013 and had donated $2.2 billion to the Azim Premji Foundation that looks to better education in India.

Amazon boss Jeff Bezos’ estranged wife Mackenzie Scott’s donations have also found a mention in the 2021 philanthropists list. She had donated $8.5 billion directly to charities – which has been declared the highest ever in a single year by a living donor.

As for the world’s top 50 generous philanthropists in the last 100 years, most came from the United States. The EdelGive Hurun report mentions that 39 greatest philanthropes from the last century came from the US, followed by five from the United Kingdom, three from China, two from India, and one each from Portugal and Switzerland.

The top 50 donors together contributed six percent or $30 billion of their endowments as annual grants. MacKenzie Scott was declared the biggest annual grantmaker with $8.5 billion in donations. She is followed by Warren Buffett at $2.7 billion and Bill and Melinda Gates at $2.5 billion.

Rupert Hoogewerf, Chairman and Chief Researcher of Hurun Report, said: “Whilst American and European philanthropists may have dominated the thinking of philanthropy over the last century, Jamsetji Tata, founder of India’s Tata Group, is the world’s biggest philanthropist.”

“Many of the philanthropists made the donation in the second generation rather than the first, such as the story of the Ford Foundation, which was set up by the son of Henry Ford.”

He added: “Today’s billionaires are not keeping up with philanthropy, making money much faster than they are giving it away. The speed of wealth creation is nothing short of staggering” and said, “it is surprising that Jeff Bezos and Elon Musk have not made the cut in this list”.
Moneycontrol News
first published: Jun 23, 2021 05:13 pm

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