Goldman Sachs finds UHNW giving reached $250 billion in 2025

Ultra-high-net-worth philanthropy reached $250 billion in 2025, up nearly 32% since 2022, according to Goldman Sachs's 2026 Philanthropy in Focus report. InvestmentNews first reported the survey findings on Nov. 11. The report draws on a June 2026 survey of 569 Goldman Sachs private clients, family businesses and family offices across the Americas and EMEA.

Advisors have a planning hook: 41% of respondents plan to give more over the next three years, rising to 48% among those already giving more than $1.5 million a year, according to Goldman Sachs. The report suggests conversations built on a client's values and legacy are more likely to land than ones built on tax efficiency. Cerulli Associates puts the wealth transfer through 2048 at $124 trillion, InvestmentNews reported.

Just 6% of respondents in the Goldman survey said charitable tax deductions influence the size of their annual gift. Only 12% cited tax deductions as a reason for giving, against 78% who cited values alignment and 51% a personal connection to a cause. For a family-office CIO, that suggests the giving budget may be set by family mission and governance, with tax structure chosen afterward, an inference rather than a stated survey finding.

Humanitarian aid contributions in 2026 are running 44% below the 10-year average, and US funding for everyday charities has fallen about 38% since January 2025, per UN OCHA and The Chronicle of Philanthropy. The Goldman report cites the figures and names three pressures on public budgets: government debt, aging populations and AI-driven labor market disruption. It also says military and defense spending is absorbing a growing share of Western government budgets.

Philanthropy is already a service line elsewhere in the wealth management industry. As Private Wealth Daily previously reported, Mercer Advisors added a philanthropy team led by Eleonora Sharef, who joined from McKinsey in April, at no added fee for Ascend and Regis clients.