Record number of rich Brits donating at least 1 per cent of wealth to charity

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29th March 2016 10:20 - Voluntary

According to a survey published by The Sunday Times, the rate of the wealthiest Britons donating at least 1 per cent of their earnings to charity is at a record level.Record number of rich Brits donating at least 1 per cent of wealth to charity

As part of the market research, the donations of more than 300 individuals, who appeared on the Sunday Times Rich List, were analysed. The analysis revealed that 105 people donated in excess of 1 per cent of their total fortune to charities over the course of one year.

In 2014, an aggregate figure of £2.58 billion was donated to charity. This figure represents a growth of 7.8 per cent on 2013.

Of the celebrities on the 2015 Sunday Times Giving List, Sir Elton John was ranked the highest, having donated just less than £24.1 million in 2014, which is nearly 9 per cent of his total wealth. The majority of this sum was donated to his Aids Foundations in the United Kingdom and the United States

According to the analysis, the highly successful band, Coldplay, donated £3.8 million to charity, through their J Van Mars Foundation. This figure is 1.82 per cent of their total wealth. Also, singer-songwriter, Eric Clapton, donated £1.4 million to charity – 0.88 per cent of his total wealth.

Steven Gerrard, who was England’s former captain, donated approximately £1.3 million in 2015 – 3.14 per cent of his total fortune. As well as Gerrard, fellow footballer, Didier Drogba and Rio Ferdinand donated £0.4 million (1.57 per cent) and £0.4 million (0.85 per cent), respectively.

Golfers Rory McIlroy and Justin Rose donated £1 million (2.63 per cent) and £0.6 million (2.57 per cent), respectively.

An alternative study by Charities Aid Foundation, which works alongside The Sunday Times to compile the list, discovered that the super-rich should be donating a minimum of 25 per cent of their lifetime earnings to charity, however, just 4 people on the Times’ list fit that criteria.

Of the people on the list, Labour peer and Supermarket mogul, Lord Sainsbury and his family donated £203.2 million to charity (the largest sum of all) and 40.1 per cent of their wealth (the largest proportion).

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