New wave of philanthropy: Approaches for young leaders

The Middle East is experiencing a seismic shift in philanthropy, driven by a new generation set to inherit an astounding $1 trillion by 2030. These young philanthropists are breaking away from tradition, embracing transparency, collaboration, and a relentless focus on impact. Their open-mindedness encourages them to explore nontraditional giving methods, alongside or in-lieu of conventional donations.

- Louisa MacDonald

Research indicates that over 45 per cent of Middle Eastern next-generation _ philanthropists are receptive to innovative approaches, such as utilising donor-advised funds, engaging in impact investing, and participating in microlending. Women are leading this charge, prioritising grassroots initiatives and challenging the status quo of funding models.

The region is seeing a surge in cross-sector partnerships, uniting governments, NGOs, and private enterprises to catalyse large-scale social change.

As this dynamic generation champions nontraditional methods and fosters cross-generational dialogue, they are redefining philanthropy to address the critical challenges of our time.

Changing face of philanthropy

Research has shown that 35 per cent of baby boomers consider themselves to be philanthropists versus 74 per cent of millennials. Particularly in Middle Eastern families across the region, we are increasingly seeing the rising generation take on leadership positions within their families giving. They are embracing a broader definition of philanthropy beyond just donations:

They are thinking about giving time and talent as they leverage both their networks and different asset classes to further causes, they are passionate about while embracing innovation. They are also identifying when new tools are needed to further global impact goals.