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$83 trillion in global wealth set to be transferred to next generation within the next 20 years

Global philanthropists call for stronger networks, governance, and data-driven impact measurement

Talking Philanthropy 2024, hosted by Global Philanthropic under the theme ‘Strategic Philanthropy: The Next Generation’, brought together over 1,000 philanthropists, non-profit leaders, academics, and policymakers to foster open dialogue and chart a bold future for impactful giving.

Featuring prominent figures such as Ban Ki-moon, 8th Secretary-General of the United Nations, Lady Edwina Grosvenor, Chair of the Global Philanthropic Advisory Board and H.E. Badr Jafar, Special Envoy for Business and Philanthropy from the UAE, the the forum spotlighted transformative strategies to empower the next generation of philanthropists.

Delivering the keynote address, Badr Jafar called attention to the staggering $83 trillion intergenerational wealth transfer expected over the next two decades, stressing the urgency of building stronger networks, governance systems, and data-driven approaches.

Jafar commented: “As this monumental wealth shifts hands, the next generation of philanthropists holds immense potential to address society’s most pressing challenges, from climate change to economic inequity. By fostering trust, enhancing collaboration, and creating innovative frameworks, we can ensure that philanthropic capital becomes a true force for good.”

He emphasized the UAE’s role as a catalyst for strategic philanthropy: “The UAE is uniquely positioned to serve as a global philanthropy hub, leveraging its strategic location, vibrant entrepreneurial spirit, and forward-thinking governance. By building world-class networks and infrastructure, we can create an environment where giving thrives, transcending borders and maximizing impact.”

The forum also explored how regions like Asia and the Middle East are shaping the future of global giving. A special session titled ‘Next-Generation Philanthropy in the Middle East’ underscored the UAE’s efforts to align stakeholders—from family offices to academic institutions—under a shared vision for sustainable impact. Speakers highlighted the unique opportunity to empower the next generation of philanthropists with the tools, networks, and governance frameworks necessary to address the world’s most pressing challenges.

Jafar stressed the importance of robust governance, transparency, and data: “Without evidence and measurable outcomes, even the best intentions fall short. That is why we must prioritize building better philanthropic governance frameworks and invest in data-driven practices to guide impactful decision-making.”

Talking Philanthropy 2024 concluded with a shared commitment to deepen global collaboration across sectors, ensuring that the next generation is equipped with the tools and knowledge to navigate a rapidly evolving philanthropic landscape.