Next-gen heirs push billionaires to give now, reshaping philanthropy
A Milken Institute report finds that heirs of ultra‑wealthy families are pressuring their parents to speed up charitable giving and to deploy funds more boldly, favoring trust-based, impact‑driven approaches like impact investing and advocacy to address systemic issues. High‑profile examples like MacKenzie Scott showcase unrestricted funding, while younger generations push for faster action and greater community partnership. The piece notes shifting philanthropy alongside a looming wealth transfer—about $124 trillion expected to move by 2048, with women inheriting a large share—driving changes in how giving is approached.
