Jamsetji Nusserwanji Tata, the founder of the Tata Group, has topped the list of EdelGive Hurun Philanthropists of the Century, with an estimated donation of $102.4 billion mainly made in the health and education sector.
Jamsetji Tata, whose endowments began as early as 1892, was popular for his ventures within the cotton and pig iron industry. He set up Tata Iron and Steel Works Company (TISCO) in Jamshedpur, now known as Tata Steel in Jamshedpur. Jamsetji Tata died in 1904 and Tata Steel now operates across 26 countries and employs around 80,500 people, according to various reports.
“The total philanthropic value of Tata is made up of 66 per cent of Tata Sons, estimated at $100 billion, solely based on the value of listed entities," the EdelGive Hurun Philanthropists of the Century report said.
The Group and its philanthropic activities are currently headed and overseen by Emeritus Chairman Ratan Tata.
Anas Rahman Junaid, Managing Director and Chief Researcher of Hurun India said, “It is a proud moment to see an Indian top the 2021 EdelGive Hurun Philanthropists of the Century," reports Business Line.
Among others, Wipro founder Azim Premji is the only Indian to be ranked among the top 50 global philanthropists compiled by the Foundation. Premji, who gifted India a donation of $22 billion for various noble causes, has ranked 12th on the list.
Among the top 5 are Bill Gates & Melinda French Gates, Henry Wellcome, Howard Hughes and Warren Buffett.
The data used to collate the rankings has been derived from publicly available sources and in certain cases, from the data directly shared by companies. According to Business Standard, the ranking is based on Total Philanthropic Value, which is the value of the assets adjusted for inflation, together with the sum of gifts or distributions to date.
“It is surprising that Jeff Bezos and Elon Musk have not made the cut in this list. The stories of the world’s biggest philanthropists of the last century tell the story of modern philanthropy. The legacies of the world’s earliest billionaires such as Carnegie and Rockefeller, through to the Bill Gates and Warren Buffett’s of today, show how wealth created has been redistributed," said Rupert Hoogewerf, chairman and chief researcher of Hurun Report.
The report further estimated that the top 50 global philanthropic individuals collectively made a contribution of $30 billion, or 6 per cent of their total endowments as annual grants. Only 13 out of the total 50 top are alive today 13 and education and healthcare sectors emerged to be the most popular causes followed by social welfare.