Young Billionaires Plan $100B in Donations

High-net-worth families are preparing to direct more than $100 billion toward charitable giving as a new wave of inheritors takes control of their wealth, according to a report from Morgan Stanley Wealth Management. The firm’s study, titled “The Future of Giving,” surveyed 142 high-net-worth investors and eight philanthropists to understand how the upcoming transfer of assets is reshaping philanthropic activity. An estimated $5.4 trillion in assets is expected to change hands over the next decade, with $2.3 trillion going to individuals under 50.

Younger inheritors view their wealth differently than their predecessors. About 79 percent of those under 50 say they feel an expectation to have a positive social impact with their money. They tend to be more cause-driven than institution-led, favoring organizations that demonstrate authentic outcomes and transparency. This marks a shift from philanthropy as a discretionary afterthought to a deliberate expression of identity and an integral part of a wealth management strategy.

Structure matters to this group. Some 39 percent of respondents under 50 said a dedicated philanthropic adviser would make them more likely to increase their giving. Meanwhile, 35 percent already have a formal giving plan supported by an adviser. Those with formal plans are significantly more likely to have donated over $100,000 in the last 12 months, with one-third doing so compared to just 3 percent of those who donate via ad-hoc giving. Dedicated charitable vehicles like Public and Private Ancillary funds—soon to be known as Giving Funds—are popular because they blend values with governance. These structures offer the professional support and formal framework for decision-making, reporting, and grant making that younger donors often demand.

For the charities hoping to receive these funds, the stakes are high. The shift requires more than traditional donation appeals; it demands credible impact reporting and digital first engagement. Families and not-for-profits must create genuine pathways for connection to keep pace with a generation that expects accountability.

The sheer scale of this wealth transfer means that many organizations will face a significant drop in funding if they fail to adapt their engagement strategies. When wealth moves from one generation to the next, the emotional attachment to a specific cause often fades, replaced by a desire for efficiency and measurable results. This creates a challenging environment for legacy institutions that rely on long-standing relationships but may struggle to demonstrate the kind of transparency and real-time impact data that younger donors prioritize. The pressure to evolve is not just a suggestion but a fundamental requirement for survival in a setting where donor attention is increasingly fragmented and transactional.

Legacy institutions often rely on established relationships, but younger donors prioritize efficiency and measurable results. This demands that organizations adapt their engagement strategies to maintain funding levels. The shift represents a major transition in how wealth is directed toward social causes.

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