Self-made money drives most of 32 new millionaire-backed trusts
Howard Lake | 11 December 2012 | News
Prospect research specialists Factary have produced a report on the new grantmaking trusts created by people in the UK with wealth of £10 million or more this year.
The Foundations of Wealth 2012 reveals that 84% of the 32 multi-millionaires behind these new trusts have generated their fortunes themselves, rather than inheriting them. The 65-page report shows that these philanthropists come from a wide range of sectors, from financial services, retail and property sectors, to fashion design, brewing and acting.
Factary has used its Factary Phi database of donations to UK causes to identify the charities and causes that these people supported before they set up the trusts. It has found that many of these philanthropists have an international outlook. Three of them are from the USA, now residing in the UK, and as a group they have charitable giving links to 14 countries.
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The Foundations of Wealth 2012 is available for purchase for £135 from Factary. Current and new subscribers to Factary's New Trust Update report can order it for £95.
About Howard Lake
Howard Lake is consultant editor of UK Fundraising. He founded the site in 1994 and successfully sold it in 2022. As director of Giving X Ltd he is exploring growing giving on a massive scale.
He is the founder of Fundraising Camp and co-founder of GoodJobs.