The Future of Philanthropy: How the Next Generation is Reshaping Giving
How the next generation of wealth stewards will redefine the future of philanthropy.
In the United States, a staggering $68 trillion in wealth is set to change hands over the next 25 years, according to Accenture. This massive transfer of wealth holds the power to reshape the world, and it begs the question: what will this mean for the future of philanthropy?
Nguyen & Chen, two renowned researchers who have been studying the philanthropic trends among ultra-high net worth (UHNW) families, offer a compelling look into the mindset of the next generation of givers in their groundbreaking article, “Philanthropic Trends Among UHNW Families.”
Their findings reveal a seismic shift in the way Millennials and Gen Z approach philanthropy. No longer content with the traditional model of writing checks and hoping for the best, this new generation seeks active involvement, tangible impact, and the opportunity to leverage their skills and networks to drive change.
The statistics paint a clear picture: 77% of Millennials consider themselves philanthropists, compared to just 48% of Baby Boomers. This shift in perspective has profound implications for the expectations surrounding donations. For this new generation, philanthropy is not an obligation but a core part of their identity and how they want to show up in the world.
Beyond the numbers, what truly sets this next generation apart is their commitment to collaboration and innovation in philanthropy. They fearlessly partner with unlikely allies, harness technology and data to maximize their impact, and take bold risks in pursuit of the greater good.
Moreover, they are ushering in a new era of transparency and accountability in the philanthropic world. They demand to know exactly where their money is going and what kind of difference it is making, unafraid to ask tough questions and hold organizations accountable.
As the world stands on the brink of a giving revolution, the $68 trillion question becomes not just how much money will be transferred, but how it will be wielded to shape the future. Will this rising generation of philanthropists embrace the challenge and use their wealth to catalyze transformative change, or will they succumb to the allure of incremental, feel-good giving?
The transformative potential of this next generation is undeniable. By empowering and connecting the future leaders of UHNW philanthropy, the full potential of this massive wealth transfer can be activated. Imagine a community of audacious, strategic givers committed to pushing boundaries and creating a world where every individual can thrive. This is not just a vision; it is a real possibility that lies within reach.
For those ready to be part of this movement, for those prepared to ask difficult questions and take the bold actions necessary to redefine the future of giving, Project Primus extends the invitation. Together, the $68 trillion question can be answered, and a legacy of impact that reverberates through generations can be forged.
