Giving by Top 50 Philanthropists Drops 30 Percent

Total giving by the top 50 philanthropists in America, totaling $7 billion, dropped 30 percent last year, and marked the lowest amount since 2010, according to a new report.

The Philanthropy 50 list, compiled by The Chronicle of Philanthropy, said the drop was partly due to massive one-time donations in 2014, including a $1.9 billion gift by Bill and Melinda Gates to their foundation.

Stock market volatility may also be to blame, especially with wealthy donors from Silicon Valley. After several years in which tech titans dominated the Philanthropy 50 list, New York and other regions made up the bulk of giving in 2015.