In an era defined by both abundance and urgent global challenges, a new generation of wealthy families is stepping forward, determined to harness their fortunes for the greater good. Far beyond traditional charity, these families are blending philanthropy with strategic capital to foster lasting change and build a meaningful family legacy.

From multi-billion-dollar family offices to bespoke private foundations, the scope and sophistication of giving have never been greater. As this movement gains momentum, its ripple effects are reshaping communities, industries, and future generations.

A Landscape of Generosity: Philanthropy at Scale

In 2024, U.S. charitable giving soared to an unprecedented $592.50 billion, marking a 6.3% increase in current dollars from the previous year. Individuals remain the cornerstone of generosity, contributing $392.45 billion, while public-society benefit, international aid, and education causes experienced a robust rebound.

Affluent households, defined as those with a net worth exceeding $1 million or annual incomes above $200,000, are leading the charge. In 2024, 81% of this cohort made donations, with an average gift exceeding $33,000—more than ten times the national average. They are deploying gifts through sophisticated vehicles such as donor-advised funds and private foundations, applying rigorous measurement and evaluation to their grants and ensuring that each dollar fulfills a carefully calibrated mission.

Climate action has become a defining theme. Over 90 of the world’s largest foundations now channel resources toward climate initiatives, and high-net-worth philanthropists are realigning their infrastructure to maximize climate impact, weaving together grants and investments to accelerate the energy transition.

Family Offices: Catalysts for Change

Family offices have emerged as powerhouses in the philanthropic ecosystem. In 2024, there were over 8,000 single-family offices globally, managing roughly $3.1 trillion in assets—a figure projected to reach $5.4 trillion by 2030. These entities blend wealth management with strategic giving, creating bespoke vehicles that reflect each family’s unique values.

• Nearly 90% of North American family offices made charitable contributions in 2024, with the majority giving over $1 million annually.
• The average annual donation from a family office stands at $15 million, roughly 1% of average assets under management.
• 81% of these offices maintain a formal mission statement, ensuring alignment between financial goals and social purpose.

Family offices leverage philanthropy to strengthen cohesion, engage next-generation members, and build a lasting heritage. Many also professionalize operations—over half of family foundations in recent surveys have paid staff, and nearly 40% employ family members in senior roles. These structures facilitate policy engagement beyond grantmaking, enabling families to advocate for systemic reforms alongside traditional giving.

Impact Investing: Aligning Capital with Values

While philanthropy typically entails grants with no expectation of return, impact investing pursues both social outcomes and financial performance. In the U.S., impact deals now comprise 54% of family office transaction volume—more than double their share in 2015. Globally, 53% of family offices are backing deals in sectors such as health, education, climate, and regenerative agriculture.

Key drivers behind this shift include the impending transfer of $84 trillion in U.S. family wealth by 2045, as younger generations insist on purpose-driven portfolios. Surveys reveal stark generational differences: 68% cite digital assets as a point of divergence, and 52% highlight ESG and impact strategies.

• Private equity and venture capital in renewable energy, AI for social good, and health tech.
• Private credit vehicles targeting affordable housing and community development.
• Public-market ESG integration, part of a $17+ trillion sustainable investing universe.

With patient capital and long-term time horizons, family offices can anchor nascent funds, validate innovative managers, and underwrite early-stage breakthroughs that traditional investors often overlook.

Blending Strategies: The Total Portfolio Approach

Leading families are moving beyond isolated impact pockets toward a total portfolio approach, embedding social and environmental goals across all assets. Reports from Mercer and the Family Office for Sustainable Development underscore the importance of clear impact objectives tied to family values, governance frameworks that balance financial and mission outcomes, and mapping opportunities across asset classes.

Integrated strategies may include:

• Program-related investments that support nonprofit partners through below-market loans.
• Mission-related investments that drive market-rate returns in aligned sectors.
• Policy engagement and advocacy to address root causes of pressing challenges.

By treating philanthropy and investing as complementary levers, families can magnify their influence and address both symptoms and underlying drivers of social issues, from climate adaptation to educational equity.

Governance, Legacy, and the Next Generation

Ensuring the continuity of impact across generations requires thoughtful governance and shared purpose. Successful families develop clear decision-making frameworks, formal mission statements, and platforms for educating heirs about both wealth stewardship and societal responsibility.

Engaging the next generation often involves hands-on experiences: site visits to funded projects, advisory roles in family offices, and collaborative grantmaking committees. These initiatives foster a sense of ownership and inspire younger members to innovate new approaches.

Ultimately, the goal is to leave a values-aligned legacy that transcends financial achievements. When a family unites around a compelling vision—whether it’s protecting the planet, eradicating poverty, or advancing human rights—it cements not only its name but its enduring impact on the world.

As more families adopt these integrated models of giving and investment, they light the path for others to transform wealth into a force for good. Through ambition, strategy, and a commitment to measurable positive social impact, the philanthropic family becomes a beacon of hope, reminding us that the truest measure of success lies in the positive change we leave behind.