While common wisdom among many luxury brands is that Arts and Culture is the best way to reach Super Rich patrons who are potential customers, a small sample survey by Wealth-X shows museums, operas and so on ranked fifth out of five philanthropic destinations for UHNW money.
The “Generosity Index” looked at 20 of the most generous Super Rich givers and found Education to be the most popular cause with 18 of 20, or 90 percent of UHNWs donating in this category.
Next was Health and Medicine, favored by 80 percent of Super Rich. Fifty-five (55) percent made major donations to Social and Humanitarian causes, followed by 40 percent for Community Development.
Only four of the 20 UHNWs Wealth-X looked at, 25 percent, aligned themselves with Arts & Culture.