The United States ultra wealthy class donated approximately $107 billion to philanthropic causes in 2025, up 43 percent from the roughly $85 billion recorded in 2022 and cementing the country's position as the world's dominant center of private giving, according to Altrata's High Net Worth Philanthropy 2026 report, published today (October 15).
The figure represents 43 percent of all global giving by ultra-high-net-worth (UHNW) individuals (those with a net worth of $30 million or more) a cohort that, despite comprising just 1.1 percent of the global millionaire class, now accounts for 38 percent of all individual philanthropic donations worldwide, according to the Altrata data.
According to a 2026 study by The Philanthropic Initiative, 75 percent of high-net-worth clients say they would be more likely to select a financial advisor who is knowledgeable about philanthropy - nearly double the 40 percent who said the same in 2018. But fewer than half of advisors are delivering on that expectation according to research from Foundation Source published in 2026.
The US is home to approximately 37 percent of the global UHNW population (more than the combined share of the next nine largest UHNW countries, according to Altrata) and the country's philanthropic infrastructure, including private foundations, family offices, and donor-advised funds (DAFs), provides a range of vehicles that amplify that capacity considerably.
At least 17 percent of the global UHNW population hold either a private individual or family foundation, with that share higher still in the US, underscoring the importance of foundation management as a service line for advisors working with ultra-wealthy clients. Donor-advised funds are also gaining traction as a tax-efficient complement to private foundations, with 75 percent of current DAF users planning to increase contributions over the next three years, according to the 2026 Bank of America Private Bank Study of Wealthy Americans.
The Altrata data points to several structural forces pushing US giving higher. Strong capital market returns, technology sector wealth gains, and a growing wave of intergenerational estate transfers have expanded both the size of the UHNW population and the liquid assets available for charitable deployment.
At the same time, the retreat of federal international aid under the second Trump administration, combined with tax changes to charitable giving included in the 2025 One Big Beautiful Bill Act (which caps the maximum federal tax benefit on charitable donations at 35 percent beginning in 2026, down from 37 percent) is reshaping both the scale and structure of philanthropic activity among the ultra-wealthy. The result, according to Altrata, is giving that is becoming more concentrated, more strategic, and more aligned with longer-term wealth-preservation planning.
Education remains the most popular philanthropic cause among the global wealthy, with approximately 59 percent of donors contributing at least once to the sector over the past decade, according to Altrata data. But environmental causes including climate recorded the fastest growth rate of any cause category, with the share of donors giving to environmental issues rising 26 percent between 2021–25 compared with 2015–20. Healthcare and medical research posted a 15 percent relative increase over the same comparison period.
The composition of the US donor pool is set to shift materially over the coming 15 years, with significant implications for how advisors approach charitable planning conversations.
According to the Altrata report, the Next Gen cohort (Generation Z and Millennials) currently accounts for just 6 percent of the global wealthy population. By 2040, that share is projected to reach 37 percent, a sixfold increase.
Generational data compiled by Bank of America Private Bank found that Gen Z and millennial donors with $3 million or more in investable assets support an average of 12 charitable causes, compared with eight among wealthy donors overall. The same study, conducted by Escalent on behalf of Bank of America Private Bank and surveying 1,431 wealthy individuals between January 8 and February 5, 2026, found that 49 percent of wealthy donors volunteered their time in 2025, up from 42 percent in 2023.
Younger donors are also more likely to use structured giving vehicles. According to the Bank of America data, Gen Z and millennial wealthy donors are approximately twice as likely as older peers to use a DAF, and 24 percent have a family foundation - a figure well above the broader wealthy population average.
The Altrata report identifies liquid assets as the most actionable indicator of philanthropic capacity. Among the global wealthy, liquid assets (cash, income, dividends, and easily liquidated financial investments) comprise a 28 percent portfolio share on average, totaling approximately $33 trillion in 2025. That pool is forecast to increase to more than $45 trillion by 2031, according to Altrata projections.
For advisors, the practical upshot is that the philanthropic conversation is no longer a peripheral service, but increasingly a condition of client retention, particularly as the great wealth transfer accelerates. According to The Philanthropic Initiative's 2026 study, 95 percent of advisors agree that philanthropy plays an important role in building relationships with clients' extended families. However, only 45 percent are having those conversations with most of their clients.
The Altrata data reinforces the urgency. With US ultra wealthy giving up 43 percent since 2022, and with the structural retreat of public funding creating new expectations of private capital, advisors who cannot credibly engage on charitable strategy risk ceding that role - and the client relationships that come with it - to those who can.
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