The wealthy are being encouraged to be more generous with their money as research shows that nearly half (47%) of multimillionaires outside the U.S. donate less than 1% of their annual income to charitable causes
The Barriers To Giving report from Barclays Private Bank says that if every one of these multimillionaires were to increase their donations to 1% there would be"an additional £800 million in annual global funding for charitable organisations".that only 10% to 12% of ultra-high-net-worth individuals —those with a net worth over £10 million —are engaged in philanthropy.
Barclays's study, in which the research agency Savanta polled 400 high net worth individuals in key markets outside the U.S., identified several"barriers to giving" explaining why less and less wealthy are giving to charity.
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