In a striking act of generosity, a billionaire couple from Texas have given away so much of their fortune that they have been removed from Forbes' prestigious list of America's 400 wealthiest people. The move highlights a stark contrast in charitable giving among the ultra-rich.
The Philanthropists Who Gave Themselves Away
Laura, 53, and John Arnold, 51, of Houston, donated more than $2 billion, a sum representing over 40% of their net worth, which stood at approximately $2.9 billion as of December 2024. This extraordinary level of giving directly resulted in their removal from the Forbes 400 list for 2024, where they had featured just the year before in 2023.
Despite their exit from the wealth ranking, Forbes awarded the couple a perfect philanthropic score of five. This score, part of the publication's analysis of wealthy Americans' giving habits, signifies that an individual has donated more than 20% of their net worth. The Arnolds' commitment to data-driven, evidence-based charitable programmes focusing on education and criminal justice reform was specifically noted.
A Wider Picture of Wealth and Giving
The story of the Arnolds unfolds against the backdrop of a record-breaking year for the Forbes 400, whose collective wealth soared to $6.6 trillion from $1.2 trillion in 2024. However, the group's collective charitable giving fell slightly to just 4.6% of their net worth, down from 5% the previous year.
The analysis revealed a significant generosity gap. About three-quarters of those on the list gave away less than 5% of their wealth. Around 40%, including the world's richest person, Tesla's Elon Musk (net worth: $428 billion), donated less than 1%. Other notable figures receiving the lowest score of one included venture capitalist Peter Thiel and basketball legend Michael Jordan.
Those scoring a two, indicating giving of between 1% and 5%, included Meta's Mark Zuckerberg, Amazon founder Jeff Bezos, and former Microsoft CEO Steve Ballmer.
America's Most Generous Givers
While the Arnolds stood out, they were not alone in significant philanthropy. MacKenzie Scott, ex-wife of Jeff Bezos, ranked as the third most generous, having given away 36% of her wealth through rapid donations of Amazon shares following her 2019 divorce.
Topping the list for the sixth consecutive year as the most generous relative to his wealth was hedge fund tycoon George Soros, who has donated more than 75% of his fortune via his Open Society Foundations. In second place was Lynn Schusterman, widow of Charles Schusterman, who gave over 45% of her wealth to causes in education, justice reform, and her Tulsa community.
In absolute monetary terms, Warren Buffett was crowned the biggest donor, having given away more than $64.8 billion in his lifetime, largely through gifts to the Gates Foundation and family charities. He is among only eleven individuals on the Forbes 400 to achieve the top philanthropy score of five, a group that also includes Bill and Melinda French Gates, and Reed Hastings.
The Arnolds, who signed the Giving Pledge in 2010, stated their belief in a responsibility to "ensure the same opportunities for others," a principle they have now dramatically put into action, even at the cost of their place among America's financial elite.
