How much did the largest foundations spend on development?

The world’s largest philanthropic givers spent $11 billion in a year on development, according to the latest available figures. Annually, the Organisation for Economic Co-operation and Development shares data on the development spending of some of the largest philanthropic givers in the world. A total of 35 donors submitted their figures for 2022 — the latest final data — including several European lotteries, which are reported under the headline “Postcode Lottery Group.” In total, the $11 billion those donors spent on humanitarian and development activities is 8.2% less than what they spent in 2021. Just the 10 largest philanthropies spent $8.6 billion, or nearly 80% of the total amount tracked by OECD. In this article, we profiled the top 10 largest among these foundations using OECD data and their latest annual reports. We converted all figures to 2024 U.S. dollar constant prices, except for OECD development spending data for 2022, which uses a different methodology. Figures drawn from reports do not align with the numbers reported to OECD because the foundations’ reports cover more recent years than OECD figures and because many of these private donors also carry out other activities not counted by OECD as development. Except for Wellcome, which has data up to 2024, all the other top foundations have figures up to 2023. Looking into their latest annual reports, these 10 foundations spent $14.8 billion — the same amount, in real terms, as in their previous filings. This is a shorter version of a full report we will publish in the coming weeks. This article will be updated with a link when the report becomes available. The top 10 foundations Gates Foundation Founded: 2002 Headquarters: Seattle, United States Development spending in 2022 (OECD): $4,977,451,890 Since its inception, the Gates Foundation has made $77.6 billion in grant payments, inclusive of payments made by previous Gates family foundations. Based on its latest filing, the foundation spent more than $7 billion on direct grantee support in 2023, up 5.8% from the previous year. Among its priorities are gender equality, health, and growth and opportunity. Mastercard Foundation Founded: 2006 Headquarters: Toronto, Canada Development spending in 2022 (OECD): $1,159,322,520 In 2009, the Mastercard Foundation shifted its focus from low- and middle-income countries to Africa. It is committed to securing the employment of 30 million young people in Africa, especially women, by 2030. It currently works in 31 African countries, partnering with hundreds of organizations across the continent to deliver educational and financial projects. The Mastercard Foundation's total program expenditure was worth $1.6 billion in 2023, up 7% from 2021. Children’s Investment Fund Foundation Founded: 2002 Headquarters: London, United Kingdom Development spending in 2022 (OECD): $399,226,909 CIFF disbursed around $595 million in grants in 2023, making it one of the largest foundations focused on the welfare of children and adolescents. This is 4.7% more than its disbursement in the previous year. Among its priorities are child health and development, protection, and sexual and reproductive health rights. The foundation also funds projects tackling climate change. Wellcome Founded: 1936 Headquarters: London, United Kingdom Development spending in 2022 (OECD): $396,433,171 Wellcome was established through the will of Sir Henry Wellcome, one of the founders of the pharmaceutical company Burroughs Wellcome & Company. In 2022, it announced its plan to spend £16 billion on health research and advocacy between 2022 and 2032. Wellcome primarily funds scientific research and advocacy in the areas of mental health, infectious diseases, and climate and health. Its gross charitable activity in 2024 amounted to $2 billion, which is 10.2% less than the previous year. Bloomberg Philanthropies Founded: 1981 Headquarters: New York, United States Development spending in 2022 (OECD): $387,898,346 Through a corporate philanthropy model established by billionaire Michael Bloomberg, Bloomberg Philanthropies mobilizes its employees and vast resources to support communities worldwide. Bloomberg Philanthropies program areas include the arts, education, environment, and health. Its total charitable disbursements in 2023 amounted to $1.5 billion, which is 9.6% more than the previous year. Ford Foundation Founded: 1936 Headquarters: New York, United States Development spending in 2022 (OECD): $310,507,810 From an initial funding of $25,000 from Edsel Ford, son of Ford Motor Company founder Henry Ford, the Ford Foundation grew into one of the world’s largest foundations with an endowment currently worth $16 billion. The foundation focuses on addressing inequality, which it believes causes many of the injustices across the globe. Its programs include disability rights, workers’ rights, civic engagement, and gender, racial, and ethnic justice. Based on its latest financial report, the Ford Foundation spent $719.5 million on programs in 2023 — down 16.4% from 2022. IKEA Foundation Founded: 1982 Headquarters: Leiden, The Netherlands Development spending in 2022 (OECD): $260,712,290 Initially focused on architecture, the IKEA Foundation now supports projects in renewable energy, economic development, governance, employment, agriculture, and refugee livelihoods. Since its inception, it has given out more than €2 billion to over 140 partners all over the world and committed in 2021 to make €1 billion available over the next five years. Its total grants and donations totaled $314.2 million in 2023, slightly less than the $318.1 million it spent in 2022. The LEGO Foundation Founded: 1986 Headquarters: Billund, Denmark Development spending in 2022 (OECD): $258,443,384 Another foundation focused on the welfare of children, LEGO Foundation promotes the growth and development of children through play, which it believes provides the best environment for creativity and learning. It also supports educators and parents who can help build the skills of children. Based on its latest annual report, the LEGO Foundation awarded 62 grants, worth 1.3 billion Danish krone ($198.2 million in 2024 prices), to 52 partners. Of this, 498 million DKK went to activities in humanitarian settings, including children in Mexico post-hurricane and displaced children and refugees in East Africa. Oak Foundation Founded: 1983 Headquarters: Geneva, Switzerland Development spending in 2022 (OECD): $249,982,755 The Oak Foundation is comprised of a group of philanthropic organizations from all over the world. Its initial resources came from interests earned through the Duty Free Shoppers. Its total grant funding in 2023 amounted to $488 million, which is 5.4% less than the previous year. Among Oak Foundation’s priorities are the environment, housing and homelessness, human rights, and women’s rights. Howard G. Buffett Foundation Founded: 1999 Headquarters: Illinois, United States Development spending in 2022 (OECD): $237,847,340 Established by Howard G. Buffett, one of the children of billionaire and philanthropist Warren Buffett, the Howard G. Buffett Foundation supports projects in the areas of food security, conflict mitigation and public safety, and human trafficking. Its total contributions and grants amounted to $366.6 million in 2023, up 10.8% from 2022. Update, Feb. 25, 2025: This article has been updated to clarify Bloomberg Philanthropies’ corporate philanthropy model.