Which billionaires don't donate? The truth behind private wealth and public giving

When you hear the name of a billionaire, you might picture a yacht, a private jet, or a massive mansion. But you probably also picture them giving away millions to charity. After all, that’s the story we’re told-rich people saving the world one donation at a time. The truth? Not every billionaire gives. And some don’t give at all.

Who are the billionaires that don’t donate?

There’s no official public list, but public records, tax filings, and nonprofit databases tell a clear story. A 2023 study by the Institute for Policy Studies found that the 25 richest Americans gave less than 0.3% of their combined wealth to charity over the past decade. That’s less than $1 billion out of $1.4 trillion. Meanwhile, the bottom 60% of U.S. households gave more per capita.

Some names keep popping up in these analyses: Elon Musk, Jeff Bezos, Larry Ellison, and Bernard Arnault. None of them have signed the Giving Pledge-a public promise by billionaires to give away at least half their wealth. Musk has made large donations, but only under pressure, often tied to political or PR goals. Bezos gave $10 billion in 2020 to launch his Earth Fund, but that’s less than 2% of his net worth at the time. He’s since given little else.

Arnault, head of LVMH and the world’s richest person in 2025, has never made a public charitable donation above $100 million. His family foundation exists, but it’s opaque, with no public reports on grants or impact. Ellison, co-founder of Oracle, has given away about $1.5 billion total-most of it to medical research. But he’s still worth over $150 billion. That’s less than 1% of his wealth.

Why don’t they give?

It’s not about not having the money. It’s about choice. Many billionaires see their wealth as a tool for control, not charity. They’d rather fund their own projects-like space travel, AI labs, or private schools-than give to public systems like food banks, homeless shelters, or public hospitals.

Some say they’re building businesses that create jobs, and that’s their form of giving. But that doesn’t replace direct aid. A factory doesn’t feed a child. A new app doesn’t pay for cancer treatment. And when you’re worth $100 billion, you can afford to do both.

There’s also the tax angle. The U.S. tax code rewards charitable giving-but only if you itemize deductions. Most billionaires use complex trusts, donor-advised funds, and private foundations to minimize taxes while keeping control. These aren’t charity in the traditional sense. They’re financial tools with a philanthropic label.

Take the Chan Zuckerberg Initiative. It’s structured as an LLC, not a charity. That means it doesn’t have to disclose how it spends money. It can fund political campaigns, buy real estate, or invest in startups-all without public scrutiny. That’s not transparency. That’s privatized power dressed up as generosity.

Who gives, and who doesn’t?

Not all billionaires avoid giving. Warren Buffett, Bill Gates, and Michael Bloomberg have collectively given away over $100 billion. But they’re the exception. The majority of the top 100 wealthiest people in the world have given less than 1% of their net worth to charity.

Here’s a simple breakdown:

The pattern is obvious. Those who sign the Giving Pledge give more. Those who don’t? They give less-often far less. And many don’t even report their giving.

What’s the real cost of not giving?

When billionaires don’t donate, the burden shifts. Public schools get underfunded. Mental health clinics close. Food banks stretch thin. Homeless services rely on volunteers because government funding is cut.

Think about this: the top 100 billionaires in the U.S. could each give $1 billion and still be billionaires. That’s $100 billion-enough to pay for universal healthcare for 10 million low-income families, or fund free college for 20 million students for four years.

Instead, they invest in tax shelters, buy media companies, or fund political groups that oppose the very policies that would make charity unnecessary. They want to fix poverty with apps, not taxes. They want to solve homelessness with housing startups, not public housing.

And when they do give, it’s often to causes that reflect their interests-not society’s needs. Musk funds Mars colonization. Bezos funds climate research but ignores the 20 million Americans who skip meals. Ellison funds medical research but won’t touch mental health programs.

Is it fair to judge them?

Some say: it’s their money. They earned it. They should decide how to spend it.

But here’s the thing: their wealth didn’t come from nowhere. It came from public infrastructure-roads, schools, patents, tax breaks, subsidies, and a workforce educated by public universities. It came from laws that protect their intellectual property and allow them to pay workers less than they’re worth.

When you’re worth $200 billion, you’re not just a self-made entrepreneur. You’re a beneficiary of a system that worked in your favor. And that system depends on everyone else paying taxes, working hard, and filling the gaps when public services fail.

Not giving isn’t just personal choice. It’s a social contract broken.

What can be done?

Change won’t come from asking billionaires to be nicer. It comes from policy.

• **Wealth taxes**: The U.S. could tax wealth over $100 million at 2% annually. That would raise $1.5 trillion over 10 years.
• **End donor-advised fund loopholes**: Require payout minimums and public reporting.
• **Mandate transparency**: All private foundations must file annual public reports.
• **Close the estate tax loophole**: The ultra-rich avoid taxes by shifting assets before death.

Some states are already moving. California passed a bill in 2024 requiring billionaires to disclose their charitable giving. New York is considering a wealth tax. The European Union is pushing for a minimum 1% annual payout from private foundations.

Public pressure matters too. When people stop praising billionaires for small donations and start demanding accountability, things change. The #GiveMore movement gained 12 million followers in 2024. It didn’t make Musk give more. But it made people stop cheering him for it.

Final thought: Giving isn’t a favor-it’s a responsibility

Charity isn’t about feeling good. It’s about fixing systems that are broken. The richest people in the world have more money than most countries. They could end hunger, cure diseases, or rebuild schools. But they choose not to.

And that’s not generosity. That’s neglect.

There’s no shame in being rich. But there’s a cost to doing nothing.