Passing the torch: next-generation philanthropists

The millennial generation is defined by the emergence of technologies that have transformed the way in which they communicate, act and, perhaps most importantly, view the world. Affluent millennials engaged in philanthropy are relying on a host of new tools available today, including social media and data analytics, to advance environmental and social goals. But for those engaged in family foundations which were established generations before them, there are considerations of family legacy. This report takes a closer look at the motivations and actions of millennials involved in their family foundations, which were created with some of the wealth amassed by high-net-worth individuals and families over the years. The research explores how this generation is striking a balance between the seemingly opposing forces of family legacy and innovation in philanthropy in order to make a measurable impact through their family foundations.

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Copyright BNP Paribas (2017). All rights reserved. Copyright The Economist Intelligence Unit Ltd (2017). All rights reserved.