For many ultra-wealthy inheritors—individuals who have received or are heirs to at least $100 million in assets—philanthropy is both a personal interest and a defining characteristic. But in today’s world of social entrepreneurism, it’s about more than charitable gifts and actions and increasingly about using wealth and resources to make a significant, positive impact on the world.
A number of factors contribute to the philanthropic motivations of ultra-wealthy inheritors:
• A belief that wealth carries social responsibility and those that have the resources and the wherewithal to be philanthropic should do so.
• Core values that have been ingrained into their thinking and decision-making by ancestors and extended family relations.
• Sociological influences that come via their peers, other multigenerational families with similar interests, the charitable community and the media.