Tata Group founder Jamsetji Nusserwanji Tata has topped the EdelGive Hurun Philanthropists of the Century. The report pegs the current value of his donation – mainly to education and healthcare – at $102.4 billion with the start of his key endowments way back in 1892.
Tata is the only Indian in the top 10 list. The only other Indian among the top 50 is Azim Premji, former chairman of Wipro, who is ranked 12th. Bill Gates & Melinda French Gates, Henry Wellcome, Howard Hughes and Warren Buffett are among the top 5. Mackenzie Scott, the former wife of Jeff Bezos, donated $8.5 billion directly to charities, most ever in a single year by a living donor.
As per the report, the total philanthropic value of Tata is made up of 66% of Tata Sons, estimated at US$100bn, solely based on the value of listed entities. Tata made his fortune in the 1870s after floating Central India Spinning Weaving and Manufacturing Company and set up the JN Tata Endowment in 1892 for higher education, which was the beginning of Tata Trusts. Jawaharlal Nehru, India’s first prime minister, often mentioned him as the ‘One Man Planning Commission’.
With total donations of US$74.6bn, Bill Gates & Melinda French Gates are second in the 2021 EdelGive Hurun Philanthropists of the Century. Their total philanthropic value is the sum of the current endowment of the value of the foundation at US$49.8bn together with their cumulative donations of US $24.8 bn.
Note that the ranking is based on Total Philanthropic Value, calculated as the value of the assets adjusted for inflation, together with the sum of gifts or distributions to date. The data was derived from publicly available sources and in certain cases directly as shared by the foundations.
Jamsetji Tata, known for his ventures within the cotton and pig iron industry, set up Tata Iron and Steel Works Company (TISCO) in Jamshedpur, now known as Tata Steel in Jamshedpur. Founded in 1907, Tata Steel now operates in 26 countries including India, Netherlands and UK, and employs around 80,500 people, according to reports.
Azim Premji, the other Indian in top 50, was the first Indian to sign the Giving Pledge in 2010 and since then Premji transferred 67% of Wipro to the Azim Premji Endowment fund. Established in 2001, the Azim Premji Foundation supports the elementary education system in rural government schools in India and has a value of US $21bn. The Azim Premji Foundation together with Wipro have donated US $150mn towards combating Covid-19.
