What is a philanthropist? And what do we mean by philanthropy? At its core, philanthropy involves the desire to promote the welfare of others, typically through the generous donation of money to good causes. A philanthropist, therefore, is someone who actively engages in and supports charitable endeavours, often with a strategic focus on creating long-term positive change. With this in mind, it’s no surprise that women, increasingly at the forefront of entrepreneurial success, are channelling their resources and influence into philanthropic activities. This growing trend highlights the transformative power of giving and the unique contributions women are making in this field.
There are well-known examples in the USA of women who have become prominent philanthropists after careers defined in the technology sector. How about the picture closer to home in the UK? A pioneer in this space is Dame Stephanie Shirley, who set up a software company in the 1960s which has gone on to be valued at almost $3 billion. The word ‘inspiring’ can sometimes feel over-used, but in Dame Stephanie’s case, it is truly fitting. Her life has focused on IT and supporting young people with autism, and it’s in these fields that she has channelled her activity as a donor. Her wry sense of humour comes through in her moving TED talk.
One might wonder whether there is any female-specific dynamic to philanthropy – the answer, according to the latest CAF UK Giving Report, strongly suggests there is. It uses the name ‘Super-Givers’ to describe people who are active in multiple ways, making financial donations, donating goods, volunteering their time, providing sponsorship and fundraising. CAF found that Super-Givers are more than twice as likely to be women.
In London, I recently spent a fascinating few hours chairing a panel discussion with change-makers and philanthropists who were all women with interesting stories to tell. One of the challenges donors can face is knowing where to start – with so many areas of the world and so many causes in need of support, it can feel overwhelming. What struck me, listening to the first panellist, was the clarity which can come with looking at socio-environmental issues through a specific lens, in this case, fast fashion. The panellist talked about tackling modern slavery and climate action in that context, a reminder that social and environmental issues are linked. Discussions continued through the evening, covering topics including collective philanthropy and the example of Impact100 London as a funding circle, which pools donations for greater impact, creating a community of donors. Global comparisons and insights were shared, with much discussion about whether it is fair to compare the UK and USA when it comes to the different levels of philanthropy one encounters, and some debate around the reasons which might sit behind this. You can read more about that evening dedicated to women and philanthropy, organised by Prism the Gift Fund, and the panel contributions from Livia Firth, Erica Wax, Ana Morales and Raakhi Shah, here.
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