Knoware House

Last month, Chris Hohn and Duncan Bannatyne, two of Britain’s richest business executives, joined the growing trend among the very rich to involve themselves in philanthropic efforts by sharing their large fortunes to various causes rather than just leaving them for their heirs.

Chris Hohn’s $913.6-million donation to the Children’s Investment Fund is a significant contribution to the projects run in Africa and other developing countries. The foundation is run by his wife and is engaged in objectives that support various communities. Hohn’s donation is believed to be the largest amount released for a philanthropic cause in Britain.

On the other hand, entrepreneur and TV star Duncan Bannatyne (of Dragon’s Den fame) has also committed to giving his entire fortune to charity. While no charities have been identified yet, there is no doubt that whatever cause Bannatyne’s fortune (which is estimated at $588.2-million) will support will definitely benefit a lot from the gargantuan amount.

This philanthropic trend in Britain appears to be growing each year. At the time of this writing, it is estimated that the amount that the top 30 philanthropists among the ranks of Britain’s richest have donated or pledged totals to over $4.6-billion, twice the amount donated in 2007.

Learn more about philanthropists such as Stephen Schwarzman on Faces of Philanthropy.

Stephen Schwarzman was recently honored by Phoenix House, the nation’s leading non-profit drug treatment and education organization.

Stephen Schwarzman is the Chairman of the Board of Trustees of the Kennedy Center.