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March 2025 - Voluntary

The UK’s wealthiest donors contributed £8 billion to charitable causes finds new research: A recent study has revealed that in 2023, the wealthiest individuals in the UK (just over 1% of the population) donated nearly £8 billion to various charitable causes; the most supported areas being education, healthcare, and medical research. In contrast, the total amount donated by the rest of the donating public over the same period was £13.9 billion.

Conducted by Altrata on behalf of the Charities Aid Foundation (CAF), the research looked at the philanthropic activities of around 3000 of the UK’s wealthiest people (high-net-worth individuals) with investable assets of £1 million or more,  to provide an estimation of what and where this group donate. Additionally, the study also focused on variances across gender, age and source of wealth.

The research revealed that high-net-worth individuals (HNWIs) were far more likely than the rest of the population to donate to education. Just under two-thirds (58%) made charitable donations to education in 2023 making it the most popular cause amongst this group. However, just 4% of general public donors chose to support education-related initiatives over that same period. Other popular causes supported by HNWIs included Healthcare and Medical Research (30%), Arts and Culture (26%), Social Services (24%), and Children and Youth Development (15%). In contrast, among the rest of the UK donating public, animal welfare emerged as the most favoured cause, with 28% of all donations going to animal causes.

Furthermore, the research also highlights that while the overall high-net-worth population is dominated by men (81% vs 19%  women) the most generous donors (those who donate the most as a proportion of their income) are women, accounting for almost one-third (29%) of the top 10% of donors. Additionally, it also found that the most generous donors were twice as likely to have inherited their wealth, compared to those whose fortunes were self-made. And while the average age overall age of HNWIs was 59 years the donors who gave the highest proportion of their wealth were 63 years old.

CAF projects that over the next 25 years, the UK will witness a significant transfer of wealth, with an estimated £5.5 trillion moving from the post-World War II generation to the younger generations who will become “the most charitable donors in history”.

Edward Garrett, Head of Private Clients at the Charities Aid Foundation says: “There is considerable untapped potential for philanthropy to contribute towards tackling local, national and global challenges. Donors, particularly among the next generation, are increasingly considering their giving as part of the spectrum of capital they can invest within the broader impact economy.”

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