A new Altrata report shows UHNW donations are up almost 32 per cent since 2022, led by North Americans
Ultra-high-net-worth (UHNW) individuals around the world donated $250 billion to philanthropic causes in 2025 - nearly 32 per cent more than in 2022 - as private giving accelerates to fill the void left by retreating public funding, according to Altrata's High Net Worth Philanthropy 2026 report, published today (October 15).
The report, now in its eighth edition, profiles approximately 5.8 million individuals worldwide with a net worth of at least $5 million. Within that group, the ultra-wealthy (those with $30 million or more) number roughly 557,000 globally and account for 38 per cent of all individual philanthropic donations, up from 34 per cent in 2018.
Their liquid assets, estimated at $33 trillion in 2025, represent the most actionable indicator of philanthropic capacity and are forecast to grow to more than $45 trillion by 2031, according to Altrata's projections.
North America remains the dominant centre of UHNW giving, accounting for approximately 46 per cent of global donations in 2025, with the US alone contributing $107 billion of that total. Canada's wealthy donors form part of that regional picture, underpinned by a tradition of private giving and a sophisticated network of philanthropic vehicles including private foundations, donor-advised funds (DAFs), and charitable trusts.
The overall number of Canadians donating to charity has been declining for several years, placing the burden of giving increasingly on high net worth and ultra-high-net-worth families, a trend that is well-documented in the Canadian market. As Danielle Robinson, National Director of Philanthropic Advisory Services at BMO Private Wealth in Toronto, has noted, those who are giving are giving more, reflecting a shift towards larger donations from fewer donors and those donors increasingly expect their financial advisors to be active participants in structuring that giving.
A planning gap advisors can close
The Altrata data points to structural forces that are expanding the pool of philanthropic capital available to Canadian wealth managers. UHNW giving grew at a compound annual rate of 7.3 per cent between 2018 and 2025, outpacing both non-UHNW individual giving (4.6 per cent) and foundation giving (6.0 per cent) over the same period, according to the report.
At the same time, the strategic sophistication of that giving is rising. At least 17 per cent of the global UHNW population hold either a private individual or family foundation, with the share higher still in North America. Donor-advised funds are growing rapidly as a complement to those structures, offering administrative simplicity and immediate tax efficiency for clients who want flexibility without the governance requirements of a private foundation.
A 2026 survey by Canadian Family Offices found that nearly one in three high net worth donors and advisors planned to increase their use of DAFs in 2026, consistent with a broader global trend toward more formalised giving structures.
The advisor opportunity is significant. According to research cited in a 2026 Foundation Source report, 80 per cent of high net worth clients believe it is their financial advisor's obligation to raise the topic of philanthropy, but fewer than half of advisors are consistently delivering on that expectation.
Generational shift reshaping the donor pool
The Altrata report identifies the generational composition of the wealthy class as one of the most consequential variables shaping philanthropy over the next 15 years. The Next Gen cohort (Generation Z and Millennials) currently accounts for just six per cent of the global wealthy population. By 2040, that share is projected to reach 37 per cent, a sixfold increase from the current level, driven by ongoing wealth creation and an accelerating pace of intergenerational asset transfers.
Younger wealthy donors give differently. They are more likely to support a broader range of causes, engage in structured giving vehicles, and prioritise measurable impact over legacy recognition.
The Canadian Family Offices 2025 philanthropy survey found that as wealthy donors age, a central challenge for the philanthropic sector is whether the next generation of high net worth Canadian families will approach giving with the same commitment and how advisors can play a role in shaping that transition.Advisors who incorporate philanthropy into early financial and estate planning conversations are better positioned to retain next-generation clients.
The Altrata report notes that the typical wealthy individual knows more than 100 other wealthy individuals through professional and personal networks - underscoring the referral and relationship value of philanthropic engagement for advisors who build genuine expertise in this area.
Where giving is heading
Education remains the most widely supported cause among the global wealthy, with approximately 59 per cent of donors contributing at least once over the past decade.
But environmental causes including climate recorded the fastest growth rate of any cause category, with the share of wealthy donors giving to environmental issues rising 26 per cent in 2021–25 compared with 2015–20, according to the Altrata report. Healthcare and medical research posted a 15 per cent relative increase over the same comparison period.
The Altrata report projects that female representation among the very high net worth population - those with $5 million to $30 million - will rise from approximately 20 per cent today to 25 per cent by 2040. The report finds that wealthy women are, on average, more philanthropically active than their male counterparts regardless of how their wealth was generated, giving more frequently and across a wider range of causes.
For Canadian wealth managers, the Altrata data offers both context and a call to action. Private giving is growing in scale and strategic sophistication, the pool of wealthy donors is expanding, and the expectations clients place on their advisors around philanthropic planning are rising. Advisors who build genuine capability in this area across giving vehicles, tax strategy, estate integration, and next-generation engagement, are positioned to deepen existing relationships and develop new ones.
