Next-Generation Philanthropy: Changing the World Study Released

The gathering may also lead to fundamental shifts in how the world's most influential philanthropists carry out their charitable efforts. Key themes that emerged included:

• These billionaire philanthropists, in contrast to previous generations, expect to see the results of their philanthropy in their lifetime and have less interest in leaving a legacy.
• An increasing number of them are willing to partner, with people like themselves, with corporations or with the recipients to ensure greater effectiveness.
• They are willing to be venture-like in their giving, viewing the philanthropic investments as risk capital. Moreover, they are willing to take risks, fail and learn from the experience in order to be more effective over time.
• They plan on giving their money away over a short time frame — more than half of respondents at the summit have set a time horizon of less than 10 years to see a return on their philanthropic investments.

Following the summit, the Forbes Insights study was launched to better understand how high net worth individuals across the globe pursue their philanthropic goals. Among the key findings, the study revealed: