NEW YORK, July 29, 2015 /PRNewswire/ -- The Bill & Melinda Gates Foundation leads a list of the world's largest private foundations established by living ultra high net worth (UHNW) individuals*, released by Wealth-X today. With total assets of US $43.4 billion, the Bill & Melinda Gates Foundation accounts for more than half of the combined assets of the 10 charitable foundations on the list.
Collectively, the foundations on the list have total assets of US $83.1 billion – equivalent to 29.7% of combined net worth of the UHNW individuals who established them.
The Li Ka Shing Foundation, founded in 1980 by Hong Kong business magnate Li Ka-Shing, ranks second on the list with US $8.1 billion in assets. Li's philanthropic foundation – which he refers to as his "third son" as he has pledged one third of his assets to it – is based in Hong Kong, making it one of the four charitable foundations on the list that are located outside the US.
Globally, there are over 5,000 UHNW-founded private foundations, according to Wealth-X. Collectively, these foundations have total assets of US $560 billion – equivalent to 19.4% of combined net worth of the UHNW individuals who established them. In the past year, these foundations gave out a total of US $45 billion, equal to 8% of their total assets.
The US is the leading country in terms of total number of UHNW-founded private foundations, followed by the UK, Canada, Mexico, and Hong Kong, according to Wealth-X.
To view the complete list of the world's top 10 largest UHNW-led private foundations, click here.
*Defined as those with US $30 million and above in assets
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