Who are the 10 largest philanthropies focused on development?

As the world’s leading bilateral donors deprioritize international cooperation, many stakeholders are increasingly looking to private foundations to see if they can step up and fill the widening gap. As a result, the collective influence of these foundations continues to grow. The latest data from the Organisation for Economic Co-operation and Development shows that in 2023, the world’s largest philanthropic donors spent $12.5 billion on development — an 8% increase from the $11.5 billion they collectively spent in 2022. A total of 31 foundations submitted their figures to OECD. It also included development disbursements from several European lotteries, which are reported as a group under the headline “Postcode Lottery Group,” bringing the total to 32 private philanthropic donors. In this article, we profiled the 10 largest among these donors using OECD data and these organizations’ latest annual reports. The OECD figures are lower than the total charitable giving reported by these organizations in their financial reports, since it only tracked the portion that went to development activities in low- and middle-income countries. Overall, these top 10 private donors spent $10.3 billion on development in 2023, up 16.4% from their $8.9 billion disbursements in 2022. All figures derived from the philanthropic donors’ official reports were converted to 2025 U.S. dollar prices, while the OECD data on development spending were in 2023 prices. The OECD uses a different methodology in converting figures to constant prices, which means that converting them to current rates might result in some discrepancies. 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 2023 (OECD): $5.47 billion. The Gates Foundation is often considered the world’s biggest philanthropic organization. Since its founding up to the fourth quarter of 2024, it has given $83.3 billion in grants. Last year, the Gates Foundation announced that it would be investing an additional $200 billion up to its intended closure in 2045, focusing on three areas: maternal and child health, eradication of deadly infectious diseases, and poverty reduction. Mastercard Foundation Founded: 2006 Headquarters: Toronto, Canada Development spending in 2023 (OECD): $1.27 billion The Mastercard Foundation has already committed $13.7 billion to support education and financial inclusion in 74 countries in its two-decade history. In 2024 alone, its total program expenditures were worth nearly $1.7 billion. The Mastercard Foundation supports a range of programs in many countries, primarily in Africa. Through its Young Africa Works strategy, the foundation aims to unlock employment for 30 million young people across Africa, particularly women, by 2030. Wellcome Founded: 1936 Headquarters: London, United Kingdom Development spending in 2023 (OECD): $887.7 million Wellcome is primarily a health funder, with a grant spending of £11.8 billion over the past 10 years alone. Most of its work supports researchers, universities, and institutions. In its latest strategy published in 2022, Wellcome announced a £16 billion allocation to research activities that address urgent health matters over the next decade. Open Society Foundations Founded: 1993 Headquarters: New York, United States Development spending in 2023 (OECD): $590.3 million Billionaire investor George Soros established the Open Society Foundations in 1993 to support a range of programs in the areas of rights, equity, and justice. It was originally primarily focused on giving scholarships to Black university students in South Africa, but has since expanded to a much wider range of areas. Based on its latest financials, OSF’s total expenditures amounted to $1.2 billion in 2024. Howard G. Buffett Foundation Founded: 1999 Headquarters: Illinois, United States Development spending in 2023 (OECD): $457.9 million Established by the son of investor and philanthropist Warren Buffett, the Howard G. Buffett Foundation aims to improve the quality of life, especially for those in the most impoverished and marginalized communities. The foundation does this by focusing on three key areas: food security, conflict mitigation, and combating human trafficking. Based on its latest financials, the Howard G. Buffett Foundation spent $484.7 million in grants and contributions in 2024. Susan Thompson Buffett Foundation Founded: 1964 Headquarters: Nebraska, United States Development spending in 2023 (OECD): $397.7 million The Susan Thompson Buffett Foundation was founded in 1964 by investor and mega-philanthropist Warren Buffett and his late wife — and the foundation’s namesake — Susan Thompson Buffett. The foundation’s global grantmaking focuses on family planning and reproductive health, with reports estimating its total spending to date for these causes at around $8.4 billion. It also provides scholarships to students in Nebraska, which is Warren Buffett’s longtime place of residence. Based on OECD data, the Susan Thompson Buffett Foundation’s development spending totaled $397.7 million in 2023, 62% more than its $245.6 million disbursement in the previous year. Children’s Investment Fund Foundation Founded: 2002 Headquarters: London, United Kingdom Development spending in 2023 (OECD): $397.4 million The Children’s Investment Fund Foundation is among the largest foundations dedicated to the welfare of children and adolescents, providing funding in the areas of child health and development, child protection, climate change, equality for girls and young women, and sexual and reproductive health rights. According to its latest filings, CIFF’s total expenditures in 2024 were worth $656.8 million. Good Ventures Founded: 2011 Headquarters: California, United States Development spending in 2023 (OECD): $312.7 million Good Ventures was established by Dustin Moskovitz, tech executive and cofounder of Facebook, and his wife, Cari Tuna, a former journalist who left her job to focus on their philanthropy. The couple has since given about $4 billion to date. Good Ventures supports a wide range of work, primarily in the health sector. Its focus areas include biosecurity and pandemic preparedness, economic growth, farm animal welfare, global health and development, scientific research and global health research and development, and transformative AI. In 2024, the foundation’s total disbursements amounted to $316.6 million. Ford Foundation Founded: 1936 Headquarters New York, United States Development spending in 2023 (OECD): $304.4 million From an initial donation of $25,000 from Edsel Ford, son of the founder of Ford Motor Company, the Ford Foundation has grown into one of the U.S.’ leading philanthropic players, with social justice at the center of its philanthropy. Ford Foundation’s latest financial report shows that its total program expenditures totaled $897.8 million in 2024. IKEA Foundation Founded: 1982 Headquarters: Leiden, The Netherlands Development spending in 2023 (OECD): $252.9 million The IKEA Foundation was founded in 1982 by Ingvar Kamprad, the man behind the multinational retail giant IKEA. In 2024, the IKEA Foundation pivoted to climate change as its focus. It has identified three key areas that will contribute toward its climate goals: energy; land, food, and forest; and building and transport. The foundation will also continue to provide emergency response support. Based on its latest financial report, the IKEA Foundation’s total grants and donations in 2024 were worth €349.2 million ($387.8 million in 2025 U.S. dollar prices). Try out Devex Pro Funding today with a free five-day trial, and explore funding opportunities from over 850 sources in addition to our analysis and news content.