In 2020, in a small San Francisco apartment, Chuck Feeney, the Irish-American co-founder of Duty-Free Shoppers, the travel retailer of luxury products, quietly achieved what he had set out to do 38 years ago – giving away his entire $8 billion fortune.
This wasn’t a deathbed donation or a posthumous endowment. At 89, Feeney had accomplished something remarkable: he had lived to see every penny of his wealth create an immediate, tangible impact across the globe.
But wind back to 1984, when Feeney decided that his wealthy peers found it utterly baffling. At the height of his success, running a luxury retail empire that made him one of America’s richest individuals, he secretly transferred his entire business ownership to a charitable foundation – The Atlantic Philanthropies, one of the largest private charitable foundations in the world.
Feeney’s philosophy was simple yet revolutionary: “I believe strongly in ‘giving while living.’ I see little reason to delay giving when so much good can be achieved through supporting worthwhile causes today.”
His approach has influenced the titans of modern philanthropy. When Bill Gates and Warren Buffett launched the Giving Pledge, they acknowledged Feeney as their inspiration. He had demonstrated that strategic, large-scale giving during one’s lifetime could drive transformative change – from bringing peace to Northern Ireland to revolutionising Vietnam’s healthcare system.
Closer home, Indians like Azim Premji and Shiv Nadar have played a pivotal role in shaping the country’s philanthropic efforts.
In 2024, Indian UHNIs donated over INR 60,000 crores, spread across various sectors like education, healthcare and sustainability.
In fact, for the last Create Wealth podcast, I had the pleasure of speaking to Ashish Dhawan, the billionaire philanthropist who has donated over INR 500 crore through his various philanthropic ventures and plans to donate INR 1000 crore more in the next decade.
He said something interesting to me – it’s time for those with the resources to “give more, give sooner, and give better”. At the helm of Accelerate India Philanthropy(AIP), he is not only walking the talk but also inspiring other wealth creators to follow suit.
What’s interesting is that I have observed a similar drive towards creating an impact among some of India’s wealthiest philanthropists. They’re not just writing cheques—they are actively involved in making a real impact.
Philanthropy in India is at a turning point, driven by a new wave of wealth creators who are choosing to give back in impactful, often unconventional ways. With a dynamic and growing economy, India is witnessing a shift where affluent individuals are not just giving away wealth but are doing so with purpose and strategy. As per a 2024 study by Bain, 60% of India’s UHNIs now prefer structured philanthropy over transactional giving.
So, in this blog, we will explore the key trends, motivations, and impact that affluent Indians are making through philanthropy—and how you, as wealth creators, can also drive meaningful change.
The evolution of philanthropy
The word philanthropy is derived from the Greek words for “love of humanity”. Across ancient civilizations—from Greek and Roman societies to Indian and Chinese dynasties—giving was a means to uphold societal harmony. Temples, churches, and mosques facilitated charity, focusing on food, shelter, and healthcare for the underprivileged.
In India, the concept of ‘daan’ (charitable giving) has been ingrained for centuries, with kings and merchants funding education, temples, and public infrastructure.
As wealth became concentrated in the hands of industrialists in the 19th and 20th centuries, philanthropy took on a more structured form. Business magnates like Andrew Carnegie and John D. Rockefeller believed that wealth should be used to uplift society, not just for personal gain.
Carnegie’s The Gospel of Wealth (1889) laid the foundation for modern philanthropy, advocating for wealth redistribution to benefit the public. His contributions funded universities, libraries and cultural institutions worldwide—many of which still stand today. Similarly, Rockefeller transformed medical research and public health through the Rockefeller Foundation, playing a pivotal role in eradicating various diseases.
In India, industrial families like the Tatas, Birlas, and Bajaj’s institutionalised charity.
Cut to today, corporate philanthropy has grown, with the advent of CSR under the Companies Act 2013 mandating large businesses to allocate 2% of profits to social causes.
In essence, there has been a strategic shift from charity to structured philanthropy. Earlier giving was all about one-off donations driven by goodwill. Today, it is about data-driven, long-term philanthropy focused on measurable outcomes and systemic change.
What makes philanthropy so important?
Despite India’s strong economic growth trajectory, our social sector investment remains at 8.3% of GDP—well below the NITI Aayog’s 13% target needed to meet the UN’s Sustainable Development Goals (SDGs) by 2030.
Relying solely on government welfare is not enough—by FY2028, India’s social sector funding deficit could reach INR 15 lakh crore.
Private philanthropy thus serves as an essential catalyst to drive transformation where public resources fall short, particularly in healthcare, education, and social equity.
The good news is that Indian philanthropists are actively bridging this gap. In 2023, private philanthropy in India grew by over 10%, with contributions from HNIs seeing a remarkable 60% increase.
Presently in India, the major focus remains on education ( 38% of contributions), healthcare (22% of contributions) and climate action (15% of contributions).
Who are these philanthropists who are driving change?
A recent study by Accelerate Indian Philanthropy (AIP) and Boston Consulting Group (BCG) surveyed 100 UHNIs and identified 8 key motivations driving them –
Interestingly, 63 of the 100 participants said their philanthropy is driven by the desire to ‘give back to society’.
What I have noticed in my professional experience as a wealth manager is that the wealthy have the intent to give, but aren’t guided well enough on how to boost their philanthropic efforts.
Approaching philanthropy
Wealth creators in India are adopting a structured and measurable approach to giving.
They are also enhancing their organisational capabilities to integrate environmental, social, and governance (ESG) goals into all their business activities.
They believe in investing strategically to ensure their contributions create maximum impact and want to know-
- What is the long-term impact of their contributions?
- Can their giving align with their family values or business goals?
- How can they ensure sustainability and accountability in their philanthropic ventures?
- How can they engage the next generation to continue their philanthropic vision?
What I find fascinating is that philanthropy for them isn’t just about money—they want to be actively involved.
Many philanthropists I know are collaborating with NGOs and non-profits, while some even establish their own foundations to ensure their efforts directly reach the end beneficiary. They take ownership of their impact by offering strategic insights, tracking performance, and strengthening the philanthropic ecosystem in meaningful ways.
But, philanthropy is not always about money. Here are a few non-monetary ways in which wealth creators can contribute to society-
Different ways to navigate philanthropy
Most people begin philanthropy in a small and unstructured way to find what truly resonates with them. Later on, they begin viewing their giving journey strategically, applying a strategy and structured approach to philanthropy.
Wealth creators can choose from structured giving models based on their objectives and level of involvement:
1. Direct grants
The simplest and most popular approach—philanthropists to provide direct financial support to non-profits (NPOs). This is suitable for those who seek simplicity and want to start on their philanthropic journey without any administrative complexities.
2. Grant-making foundations
These are legally established entities funded by individuals or families, focused on strategic, long-term philanthropy through grants to NPOs.Generally, those who plan to give a large quantum of money and want to build a multi-generational legacy like the Azim Premji Foundation, Mariwala Health Initiative and Rohini Nilekani Philanthropies form such foundations.
3. Operating foundations
These organisations run and manage their own philanthropic programmes, often focusing on specific sectors. Some, like the Shiv Nadar Foundation and Piramal Foundation, adopt a hybrid model, combining grant-making with direct programme execution. The philanthropists have to dedicate significant time and execute initiatives under this structure.
4. Collaborative vehicles
In this model, also known as ‘Giving Circles’, multiple philanthropists pool their resources into a shared grant fund and collectively decide as to which causes to support. This fosters peer learning, shared decision-making, and drives a greater impact. Some of the major Giving Circles in India are ACT Grants, EdelGive GROW Fund and India Climate Collaborative.
5. Collective philanthropy
Instead of funding multiple organisations, donors co-create an institution or initiative, contributing towards its establishment, growth, or endowment for long-term financial sustainability. The contributions can either be earmarked for a specific initiative like a library, or robotics labs or be a part of the corpus fund. Most of the universities in India operate under this structure.
6. Donor-Advised Funds (DAFs)
DAFs function as charitable investment funds, managed by a third party while donors retain an advisory role in fund distribution. The DAF provider handles administration, compliance, and reporting, ensuring efficient capital deployment.
Though relatively new in India, global donors leverage DAFs to contribute to social causes and drive impact in India.
The most common legal structuring for giving vehicles in India, such as Grant-Making Foundations and Operating Foundations, is either in the form of a Trust, Society or Section 8 Company.
By selecting the right philanthropic vehicle, wealth creators can align their giving with their vision, ensure sustainability, and create a lasting impact.
How to start your philanthropic journey
Making an impact: Philanthropy success story
While the above segment gives you an insight into how you can approach your philanthropic journey, I wanted to share a personal experience I had that deeply resonated with a cause I believe in. This got me thinking about philanthropy much more seriously.
Environment and climate conservation are really close to my heart.
When I recently met Dr. Krithi K. Karanth, who runs the Centre for Wildlife Studies (CWS), I was amazed by the impact philanthropy was driving.
Founded in 1984 by Padma Shri Dr. K. Ullas Karanth, this institution demonstrates how focused, science-based conservation efforts can create lasting impact across ecosystems and communities.
Under the leadership of Dr. Krithi K. Karanth, CWS exemplifies the transformation possible when research meets on-ground action. Their work spans crucial intersections of conservation and community welfare.
- Through their ‘Wild Seve’ initiative, they’ve facilitated over 28,000 compensation claims from the government for families affected by wildlife interactions.
- Through their ‘Wild Shaale’ conservation education program they have reached 50,000+ students from 1100 schools.
- The organisation’s commitment extends to public health, having trained over 31,000 frontline staff and community members in disease prevention and conflict management through the Wild Surakshe program.
- Their ‘Wild Carbon’ initiative, which is planting over 1 million native saplings, showcases how environmental restoration can align with creating sustainable livelihoods for local farmers.
India’s conservation landscape is rich with such opportunities, where strategic philanthropy can drive significant change. Whether it’s wildlife protection, habitat restoration, or community-based conservation, organisations like CWS demonstrate that well-directed support can create lasting positive impact for both nature and communities.
CWS is supported by 15 philanthropic foundations, 19 corporations, and over 400 individual donors. Their top donors include Amazon, Axis Bank, BI WorldWide, National Geographic Society, Oracle, Pernod Ricard India Foundation, Rohini Nilekani Philanthropies, Rainmatter Foundation, Rolex, Sundaram Finance, Tiger Global Foundation, US Fish and Wildlife Service, Silicon Valley Community Foundation (CISCO) amongst others. Do check out their website and explore how you can support their mission here.
In summary
Philanthropy isn’t just about wealth distribution—it’s about creating a meaningful legacy. It’s about being deliberate, thoughtful, and strategic in how you give. The tools and opportunities available today—from donor-advised funds to collaborative platforms—make this possible on an unprecedented scale.
As wealth creators, we have a unique chance to redefine the landscape of giving. Whether it’s supporting education, combating climate change, or fostering social equity, our impact can be profound.
Philanthropy is no longer just about giving back—it’s about creating lasting value for society and for your family. With India at the cusp of a wealth and impact revolution, the time to act is now.
By adopting a systemic approach to philanthropy, we can create a ‘multiplier effect’ in areas that lack public and corporate funding. This approach focuses on strengthening grassroots organisations, fostering innovation, and providing flexible, patient capital to social entrepreneurs.
As wealth creators, the legacy we build today will define the world of tomorrow.
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