The Chronicle of Philanthropy recognizes Mark Zuckerberg as one of the most generous among America’s richest. The newly-wed Mr.Zuckerberg and his wife, Priscilla Chan created quite the buzz when the donated a staggering $992.2 million worth of Facebook stock (a total of 18 million shares) to the Silicon Valley Community Foundation.
The twenty-nine year old billionaire of Facebook is unsurprisingly the youngest person to make it to the top of the list of 50 most generous donors – a highly esteemed list compiled by the Chronicle of Philanthropy.We all know that Facebook founder Mark Zuckerberg is one of the richest Americans today. According to the Chronicle of Philanthropy, he is also one of the most generous. It is Zuckerberg and young entrepreneurs like him who are now shaping what is now recognized as the golden age of philanthropy.
An article of Forbes.com explores the psychology behind the younger generation’s heightened awareness about the importance of charitable giving. According to a survey conducted by nextgendonors.org, the “Gen X’ (born 1964-80) and “Gen Y” (born 1981-2000) Americans, in their lifetime, are expected to inherit $40 trillion or more in wealth and generate trillions more and most of it is predicted to go to charity as this generation is proven to be far more philanthropic than its predecessors.
The survey suggest the following reasons are the main contributors in this generation’s philanthropic spirit:
- Leaving a mark: This generation has been fortunate enough to be raised with philanthropic values from the previous generation and kick it up a notch by applying various approaches that have greater long-term value. The generation is focused not only on improving the present, but also to create a lasting change for the generations to come by diving head-first into long-term issues by donating to research and environment protection.
- Networking: The young philanthropists are very well-networked and have no qualms about sharing their knowledge and experience. Their collaborated efforts coupled with their multiple-approach-strategy generates better results for their causes. With access to more platforms of donations and with the internet revolutionizing the concept of charity, this generation is automatically more involved in its social causes and more united.
- Sense of urgency: As opposed to the previous generation who shifted focus to philanthropy much later in their career , this generation thinks about their legacy while at the early stages of building their career. They are quick to apply their skills and are already aware of the kind of changes they wish to see and do not wait to make it happen at a more comfortable stage of their life.
- Flexibility: This generation’s adaptability is one of the key factors that bring about great changes in their philanthropic work. They are more focused on the cause rather than the organization and this helps them choose the most efficient way of improving the cause without being too caught up in organization ties. They are likely to put greater faith in a little known non-profit, or even an individual instead of a well-know international organization if they think its more worthwhile.
Only time will tell what is in store for the future of philanthropy, but with a generation more aware, involved and united, it is safe to assume they are on the right track to preserve America’s spirit of giving.