Today is a proud day for India, Jamsetji Tata, who pioneered a unique model of entrepreneurship and philanthropy in modern India, much before a Bill Gates or Warren Buffet were in the frame, was adjudged as the planet’s most generous individual of the last century, according to the list of 50 global philanthropists compiled by Hurun Research and Edelgive Foundation.

Hold your breath as Jamsetji Nusserwanji Tata, the founder of Tata Group, donated a staggering $102.4 billion, miles ahead of his American and European philanthropists.

The founder of the group — whose business interests spans from salt to steel to software, automobiles to airlines, chemicals to coffee and tea — stands way ahead of much heard and publicised donors included Bill Gates and his now-estranged wife Melinda, who have donated $74.6 billion, Warren Buffet ($37.4 billion), George Soros ($34.8 billion) and John D Rockefeller ($26.8 billion). 

In a statement Rupert Hoogewerf, the Chairman and Chief Researcher of the 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 Total Philanthropic Value of the individuals ranked in the list is calculated as the value of the assets adjusted for inflation and the sum of gifts or distributions to date. To arrive at these figures, the report relied on the data from publicly available sources and in certain cases from figures made available directly by the different foundations.

Innate trait of philanthropy

Tata’s trait of philanthropy was not an acquired one as he started his endowments as early as in 1892. He continued donating mostly for healthcare and education requirements from the income received by the Tata Sons till his death in 1904.

The legacy and the generous contribution for philanthropic activities continued and at present are done under the supervision of the group’s Chairman Emeritus Ratan N Tata.

Interestingly, the total philanthropic value of Tata Group is made up of two-third of Tata Sons, estimated at $100 billion, solely based on the value of listed entities.

#JNTata tops the EdelGive Hurun Philanthropists of the Century. The report pegs the current value of his donation – mainly to education and healthcare – at $102.4 billion with the start of his key endowments way back in 1892. #ThisIsTata https://t.co/p0e8ptYvac

— Tata Group (@TataCompanies) June 23, 2021

Another notable donor from India who is in the list is the Wipro Founder-Chairman Azim Premji. Premji has donated nearly $22 billion as gifts for noble causes and ranks 12. He is the only other Indian, besides Tata, in the list of 50 global philanthropists.

Azim Premji has transferred 67 per cent of Wipro to the Azim Premji Endowment fund. In 2001, the Azim Premji Foundation was established and it supports the elementary education system in rural government schools in India.

In the statement Hoogewerf said: “Many of the philanthropists made the donation in the second generation rather than the first, such as the story of the Ford Foundation, which was set up by the son of Henry Ford.”

According to Hoogewerf, today’s billionaires are not keeping up with philanthropy as they are making money much faster than they are giving it away.

Hurun Research and EdelGive Foundation today released the 2021 EdelGive Hurun Philanthropists of the Century, a ranking of the world’s most generous individuals from the last 100 years.

The father of Indian industry, Jamsetji Tata, tops the list followed by pic.twitter.com/MMBrY0Hkwl

— HURUN INDIA (@HurunReportInd) June 23, 2021

Talking about the speed at which wealth creation is taking place, Hoogewerf observed: "The speed of wealth creation is nothing short of staggering. Three individuals added more than $50 billion in a single year, led by Elon Musk with $151 billion, on the back of the rise of e-cars, whilst e-commerce billionaires Jeff Bezos of Amazon and Colin Huang of Pinduoduo added $50 billion each. At this rate, expect to see fifty or more break through the $100 billion mark within the next five years.”

The report states that the total donations by the top 50 in the list stands at $832 billion over the last 100 years, of which $503 billion came from foundation endowments and $329 billion from donations. Education and healthcare were the most popular causes followed by social welfare.

Interestingly, a few names like that of Alfred Nobel are not even in the list of top-50 givers of the last century.