Key Takeaways:
Michael Bloomberg topped the Chronicle of Philanthropy's Philanthropy 50 for the third consecutive year, giving $4.3 billion directly to arts, education, environment, public health, and city government programs in 2025.
The top 50 US donors gave $22.4 billion in 2025, but only 19 of the Forbes 400 wealthiest Americans donated enough to make the list.
A new 0.5% AGI floor on charitable deductions took effect in 2026, projected to cost charities $5.7 billion, while a Winthrop Rockefeller Foundation lawsuit tests whether foundations can shift from donor intent to trust-based philanthropy.
Michael Bloomberg gave $4.3 billion to charity in 2025, landing at the top of the Chronicle of Philanthropy's Philanthropy 50 for the third year running. The Bloomberg financial-news founder directed his giving to arts, education, the environment, public health, and programs to improve city governments. The money went directly to causes through Bloomberg Philanthropies, not into an endowment to sit and compound.
That distinction matters. The number two donor, Bill Gates, gave $3.7 billion, but it went to the Gates Foundation, which is under renewed scrutiny after Gates apologized to foundation staff in February 2026 over his ties to Jeffrey Epstein. Warren Buffett donated $1.3 billion to four family foundations. Paul Allen's $3.1 billion was a bequest to start a new foundation. The top 50 donors collectively gave $22.4 billion, but a significant portion landed in intermediary structures rather than reaching operating nonprofits.
The Tax Law Makes It Harder
The One Big Beautiful Bill Act introduced a 0.5% adjusted gross income floor on itemized charitable deductions starting in 2026, meaning only donations exceeding that threshold generate a tax benefit. The Chronicle of Philanthropy reports this change is projected to cost charities $5.7 billion. Donor-advised fund contributions still qualify for itemizers but do not qualify for the new universal charitable deduction available to non-itemizers ($1,000 single, $2,000 married for direct cash gifts only).
Separately, the Winthrop Rockefeller Foundation is facing a lawsuit over its shift toward trust-based philanthropy, where grantees rather than the foundation direct spending with a racial equity focus. Plaintiffs allege the shift departs from donor intent. The case tests how far foundations can reinterpret their mandates.
The pattern: $22.4 billion in annual top-donor giving, new tax barriers reducing incentives, and ongoing legal questions about whether the money reaches the people it was meant for.
People Also Ask
Q: How much did Michael Bloomberg give to charity in 2025? A: Bloomberg gave $4.3 billion in 2025, directing it to arts, education, the environment, public health, and city government programs.
Q: How does the new tax law affect charitable giving in 2026? A: A new 0.5% AGI floor means only charitable contributions exceeding 0.5% of adjusted gross income are deductible, and the maximum deduction rate dropped to 35 cents per dollar for top earners. The change is projected to cost charities $5.7 billion.
Q: What is the Winthrop Rockefeller Foundation lawsuit about? A: Plaintiffs allege the foundation departed from donor intent by shifting to trust-based philanthropy with a grantee-led, racial equity focus. The case tests the legal boundaries of how foundations can reinterpret their missions.
Q: How many of the richest Americans are major charitable donors? A: Only 19 of the 400 richest Americans on the Forbes 400 donated enough to make the Chronicle of Philanthropy's top 50 donor list in 2025.