How Young Billionaires are Redefining Philanthropy on the World Stage

As wealth accumulates among a younger, more socially conscious generation of billionaires, philanthropy is undergoing a dynamic transformation. Today’s ultra-wealthy are redefining what it means to give, taking philanthropy beyond mere charity and making it a force for lasting, systemic change across the globe. According to the Wealth-X 2019 Trends in Ultra-High Net Worth Giving report, these young philanthropists (those under 45) are adopting fresh, targeted, and impactful methods that mark a distinct departure from the approaches of previous generations. 

Here are four key ways in which young billionaires are globally reshaping philanthropy—and some innovative strategies to build upon these trends.

1. Co-Creation and Direct Involvement: More Than Just Writing Checks

Gone are the days when philanthropists would simply donate and delegate. Today’s young billionaires are deeply involved in the organizations they support, offering their time, skills, and insights to help solve pressing global issues. This approach, known as "co-creation," positions philanthropists as active collaborators.

Take, for instance, the case of Laura Arnold, a Houston-based billionaire who joined the board of REFORM Alliance, a criminal justice reform group, after making a significant donation. By sitting on the board, she directly influences the organization’s mission, collaborating with diverse voices including Jay-Z, Meek Mill, and CNN’s Van Jones. This co-creative approach not only brings accountability but also bridges the gap between donors and the communities they impact.

Creative Idea: 

Global Action Fellowships - Create fellowship programs where young ultra-wealthy individuals partner with nonprofit teams on the ground in different countries. These fellowships could allow philanthropists to better understand regional challenges while providing nonprofits access to high-level expertise, bringing valuable insights to co-created projects.

2. From Galleries to Global Classrooms: A Shift in Priorities

While older generations of billionaires often funded cultural institutions like museums and theaters, today’s younger philanthropists are less inclined to invest in the arts. Instead, education, social advocacy, and other direct-action initiatives are becoming their primary focus. Wealth-X notes that only 35% of the ultra-wealthy under 45 support the arts, compared to more than 65% of their older peers. Young philanthropists are dedicating more funds toward education, climate action, health, and social justice, emphasizing causes that resonate globally.

Creative Idea: 

Global Community Impact Hubs - Establish community impact hubs worldwide that can offer education, climate action, and health services. With locations funded by young philanthropists, these hubs could serve as regional empowerment centers, helping to address critical needs while building lasting partnerships with local leaders.

3. Collaboration for Maximum Impact

Collaborative philanthropy is becoming a hallmark of this new generation of global billionaires. By combining their resources with those of other high-net-worth individuals, these philanthropists can maximize their impact. Although collaborative giving isn’t new—The Giving Pledge founded by Warren Buffett and Bill Gates has inspired more than 200 billionaires to commit to donating most of their wealth—young billionaires have amplified this model, pooling resources to tackle complex issues like climate change and healthcare on a global scale.

Creative Idea: 

Global Giving Networks - Develop digital platforms where philanthropists can partner with other donors around the world to fund specific projects. These networks could also allow philanthropists to collaborate with social entrepreneurs and local NGOs, ensuring that initiatives are scalable, sustainable, and culturally relevant. A “Philanthropist Exchange Program” could allow young billionaires to visit and support international projects alongside their global counterparts, creating deeper connections and cross-cultural insights.

4. Focused Giving: Building Expertise in a Singular Cause

In contrast to older generations who often spread their donations across various causes, younger philanthropists tend to concentrate their efforts on a single area of passion. This focused approach enables them to become deeply knowledgeable in one area, making their contributions even more impactful. A group of young Chinese billionaires, for instance, has made climate change their primary philanthropic focus, a move that is becoming increasingly popular among young ultra-wealthy individuals worldwide.

Creative Idea: 

Global Philanthropy Labs - Create specialized “labs” focused on singular issues—such as renewable energy, education for girls, or clean water—that act as think tanks and innovation hubs. These labs could collaborate with governments, NGOs, and educational institutions across the globe to pilot new solutions, monitor impact, and scale successful initiatives. By building this level of expertise, philanthropists could make significant strides in their chosen area, positioning them as global change leaders.

Redefining Global Philanthropy: Purpose, Innovation, and Impact

As they invest their time, skills, and resources into impactful, long-term solutions, these young billionaires are changing philanthropy from the inside out. Their model is transparent, collaborative, and focused—creating an international framework for giving that’s equipped to tackle today’s challenges with innovative solutions. By embracing a global vision of interconnectedness, the next generation of billionaires is proving that philanthropy is not just about wealth but about strategic influence and genuine partnership with communities around the world.

This new wave of global giving reflects a profound shift in priorities and approach. The future of philanthropy is hands-on, committed, and guided by a mission of creating lasting change. As these young philanthropists continue to shape a legacy, they are setting a global standard for purposeful, progressive, and transformational philanthropy that can inspire future generations worldwide.