The world's richest people are giving away a lot more than they used to, according to a new study that finds the world's richest people are giving away more than twice as much as they used to.
The study, published in the British Journal of Philanthropy, found that the world's richest people are giving away more than twice as much as they were five years ago, when the average annual income was around $65,000, the BBC reports.
The researchers found that the world's richest people are giving away more than twice as much as they were five years ago, when the average annual income was around $180,000.
The researchers say that in India, the world's most populous country, family philanthropy has long played a "pivotal role" in the country's development, contributing both through their family businesses and through personal giving, the Financial Express reports.
The researchers say that in India, family philanthropy is "uniquely positioned to address gaps in India's philanthropic ecosystem by deploying patient capital that supports innovation."
According to the India Philanthropy Report 2024, there is a growing aspiration among various cohorts within family philanthropy, including Inter-Gen givers, Now-gen givers, professionals, and women to invest in these areas. Read the Entire Article
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A part of a series produced by The Huffington Post in celebration of #GivingTuesday, which will take place this year on December 3, Kathy Calvin and Henry Timms vouch that we are living in a new era of philanthropy.