No, you can’t take your money with you when you pass on, but you can use it to build a lasting legacy. Last year the two most philanthropic figures of 2015 left their riches to others upon their deaths, and their various bequests eclipsed the giving of the living.
A list released today by The Chronicle of Philanthropy lays out the donations made by the 50 most generous Americans in 2015 (see the top 25 in the slideshow above). The roster has some familiar faces, but also some new ones. Pittsburgh's Richard Mellon Scaife – a principal heir to the Mellon banking, oil, and aluminum fortune, and the owner and publisher of the Pittsburgh Tribune-Review – gave away more money than any other individual American last year, following his death at age 82. At the time of his passing, FORBES estimated his net worth at $1.5 billion.
His bequests, which totaled, $758.9 million, went to two private organizations, a museum, and an environmental group. The bulk of the sum went to the Allegheny Foundation and the Sarah Scaife Foundation, with each receiving $369.4 million.
Second on The Chronicle’s list is San Antonio’s John Santikos, who passed away in January of last year at the age of 87. Santikos’ father, Louis Santikos, had opened a series of successful nickelodeon theaters in San Antonio, Texas, in the early 1900s. His son took over his father’s movie theatre business, expanding into multi-theatre cineplexes and drive-ins. John Santikos left $605 million to his own John L. Santikos Charitable Foundation, which operates within the San Antonio Area Foundation, which will also continue to operate his company.
Third on the philanthropic 50 list is a familiar name, Michael Bloomberg—financial tycoon, former New York City mayor and possible presidential candidate, worth an estimated $40 billion. Bloomberg gave away $510 million last year to various causes, including those focused on arts, education, environment, public-health, and programs aimed at improving city governments around the world.
Another New Yorker is among the top five on the list of most philanthropic Americans—hedge fund titans John and Jenny Paulson, who gave away $400 million. Paulson is worth an estimated $9.8 billion. According to the Chronicle of Philanthropy, all of that money went toward Harvard University’s School of Engineering and Applied Sciences—the largest donation in the school’s history. Paulson, who is perhaps best known for successfully betting against subprime mortgages in 2007, is a 1980 graduate of Harvard Business School.
Rounding out the top of the list of 2015 biggest givers is Hawaii’s Pierre Omidyar, who donated $327 million. Omidyar, who is known for founding the online auction site eBay and is worth a FORBES estimated $7.3 billion, dispersed his donations to the Omidyar Network, Humanity United, the Ulupono Initiative, HopeLab, and other groups.
To see who else gave away loads of money this past year, check out our slideshow above, or visit the Chronicle of Philanthropy.
