Home CATEGORIES Business Ethics & Philanthropy Jamsetji Tata is the Greatest Philanthropist of the Century

Jamsetji Tata is the Greatest Philanthropist of the Century

309
0
SHARE
Jamsetji Tata
Jamsetji Tata is rightly declared as the greatest philanthropist of the Century
 
It’s a proud moment for India as our very own benevolent business tycoon Jamsetji Tata has been declared the greatest philanthropist of the last 100 years. With total donations value estimated at a whopping $102.4 billion, the late Jamsetji Tata is the world’s biggest philanthropist of the last century, says the new report ‘2021 EdelGive Hurun Philanthropists of the Century’.
The ranking is based on Total Philanthropic Value, calculated as the value of the assets today together with the sum of gifts or distributions to date. The total philanthropic value of Tata is made up of 66% of Tata Sons, estimated at $100 billion, solely based on the value of listed entities. Tata made his fortune in the 1870s after floating Central India Spinning Weaving and Manufacturing Company and set up the JN Tata Endowment in 1892 for higher education, which was the beginning of Tata Trusts. Jawaharlal Nehru often called him the ‘One Man Planning Commission’. Tata Trusts, which he founded in 1892, is the oldest foundation in the same report.
The nationalist in him believed unwaveringly that the fruits of his business success would enrich a country he cared deeply about. These attributes, by themselves, would have been enough to mark him as an extraordinary figure. But what made Jamsetji truly unique, the quality that places him in the pantheon of modern India’s greatest sons, was his humaneness.
It is this characteristic from which stemmed Jamsetji’s generosity of heart and his compassion for a citizenry labouring under the twin realities of oppressive foreign occupation and overwhelming poverty. The distinctive structure the Tata group came to adopt after Jamsetji’s passing, with a huge part of its assets being held by trusts devoted to ploughing money into social-development initiatives, can be traced directly to the empathy embedded in the Founder’s philosophy of business.
Anas Rahman Junaid, MD 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.” This report by Hurun Research and EdelGive Foundation ranks the world’s most generous individuals from the past century. All the data collection has been done by Hurun Research using a systematic methodology.
Vidya Shah, Executive Chairperson of EdelGive Foundation, said “In the age of the information overload, the EdelGive Hurun Report enables a more holistic understanding of the trends, motivations and mindsets that drive philanthropy across the world. The Report lays down a narrative, indicating the path that the philanthropic sector has taken to get here/to this point, and charts the course that it may likely take moving forward.”
Rupert Hoogewerf, Chairman and Chief Researcher of Hurun Report, said: ““Whilst American and European philanthropists may have dominated the thinking of philanthropy over the last century, Jamsetji Tata, founder of India’s Tata Group, is the world’s biggest philanthropist.”
The second Indian citizen to make it to the list is Azim Premji at #12. He was the first Indian to sign the Giving Pledge in 2010 and since then Premji transferred 67% of Wipro to the Azim Premji Endowment fund. Established in 2001, the Azim Premji Foundation supports the elementary education system in rural government schools in India and has a value of $21 billion. The Azim Premji Foundation together with Wipro have donated $150 million towards combating Covid-19.
Bill & Melinda Gates are ranked second with total donations of $74.6 billion. Their total philanthropic value is the sum of the current endowment of the value of the foundation at $49.8 billion together with their cumulative donations of $24.8 billion. The couple established the Bill & Melinda Gates Foundation in 2010 with a focus on public health, education and climate change, the same year that they created with Warren Buffett the ‘Giving Pledge’, a movement encouraging billionaires to donate the majority of their wealth to charity.
As of 2021, there are 220 pledgers from 25 countries. Despite the recent announcement of their divorce, the couple will remain co-chairs and trustees of the Bill and Melinda Gates Foundation with ‘no changes’ to their roles or the organization.

Top 10 of the 2021 EdelGive Hurun Philanthropists of the Century

 

 

Original Philanthropist Estimated Current Value of Donation (US$bn) Start of Key Endowments Key Person Today Country Main Cause

1

Jamsetji Tata

102.4

1892

Ratan Tata

India

Education, Healthcare

2

Bill Gates & Melinda French Gates

74.6

2000

Bill Gates & Melinda French Gates

USA

Healthcare

3

Henry Wellcome

56.7

1936

Eliza Manningham-Buller

UK

Healthcare

4

Howard Hughes

38.6

1953

Clayton S. Rose

USA

Research & Development

5

Warren Buffett

37.4

2006

Warren Buffett

USA

Healthcare

6

George Soros

34.8

1979

George Soros

USA

Human Rights & Justice

7

Hans Wilsdorf

31.5

1945

Marc Maugué

Switzerland

Community Development

8

JK Lilly Sr

27.5

1937

N. Clay Robbins

USA

Community Development

9

John D Rockefeller

26.8

1913

Sharon Percy Rockefeller

USA

Healthcare

10

Edsel Ford

26.6

1936

Darren Walker

USA

Human Rights & Justice

Source: 2021 EdelGive Hurun Philanthropists of the Century. Green boxes refer to the philanthropists alive today.

Top 10 family managed foundation in 2021 EdelGive Hurun Philanthropists of the Century

Rank

Active family Member

Name of Foundation Estimated Current Value of Donation (US$bn) Original Philanthropist Country

1

Ratan Tata Tata Trusts

102.4

Jamsetji Tata

India

2

Ely Lilly II Lilly Endowment

27.5

JK Lilly Sr

USA

3

Sharon Percy Rockefeller Rockefeller Foundation

26.8

John D Rockefeller

USA

4

Henry Ford Ford Foundation

26.7

Edsel Ford

USA

5

Flora Hewlett Birdzell William & Flora Hewlett Foundation

21.4

William & Flora Hewlett

USA

6

Lukas Walton Walton Family Foundation

12.8

Sam & Helen Walton

USA

7

Guy Weston Garfield Weston Foundation

11.5

W. Garfield Weston

UK

8

Martin Essayan Calouste Gulbenkian Foundation

10.8

Calouste Sarkis Gulbenkian

Portugal

9

Hawley Hilton McAuliffe Conrad N Hilton Foundation

9.5

Conrad Hilton

USA

10

J. Howard Pew II The Pew Charitable Trust

9.2

Joseph N. Pew Jr.

USA

Source: 2021 EdelGive Hurun Philanthropists of the Century