Chinese Owned TikTok Has Donated 2.26% Of Its Revenue To BLM (By Far The Most Of Any Major Corporation)
Latona’s has analysed a series of data sets on the companies that have pledged the most to charity, the companies that have pledged the most to Black Lives Matter (BLM), as well as the individuals from the Forbes 400 list that pledge the highest percentage of their wealth to charity.
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The key points from Latona’s findings are that Gilead Sciences, a biotech company, is the company that pledged the most to charity in one year, totalling $388 million, equivalent to 2.9% of their pre-tax profits.
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Gatsby Inc. pledged a whopping 104% of its gross revenue to the Black Lives Matter movement, whilst Adidas donated £120,000,0000 to the movement, 0.45% of its gross revenue.
The individual that donated the most was Edward Bass, an American businessman. Bass donated $160,000,000 to charity in one year, which is 6.7% of his own wealth.
Charities work tirelessly to raise money and awareness for those in need, and rely on donations to survive. So when it comes to the most charitable companies, who is willing to give the most from their pre-tax profit?
The table below shows the companies that have pledged the highest percentage of their pre-tax profit to charity:
|Company||Amount pledged||% of PTP|
|Gilead Sciences||$388 million||2.90%|
|Goldman Sachs Group||$280 million||2.50%|
|Johnson & Johnson||$227 million||1.30%|
|Wells Fargo & Company||$287 million||1%|
|JPMorgan Chase & Company||$250 million||0.70%|
|Microsoft Corporation||$169 million||0.70%|
|Bank of America||$181 million||0.60%|
The Companies That Pledged The Most To Charity
American based biotechnology company, Gilead Sciences has pledged the highest percent of its pre-tax profit to charities. The total amount pledged by the company amounts to $388 million.
The second most charitable company is Goldman Sachs Group, who have pledged a total of $280 million to charities including the Covid-19 relief fund. Mental health charities and providing bread and food for unserved children in South Korea. The total amount pledged by Goldman Sachs is 2.5% of their pre-tax profit.
Pharmaceutical company Pfizer has pledged a total of $210 million to various charities, 1.7% of it’s pre-tax profit.
Companies That Have Donated To Black Lives Matter
Semonstrations have been taken place over the last couple of months, with the media focussing heavily on the protests that have been taking place, but what have businesses actually been doing?
Businesses have been making some noise around the Black Lives Matter movement, by pledging money and sharing their revenue. But which companies have shelled the most cash?
|Company Name||Pledged ($)||% of gross revenue|
Tech and website based business Gatsby Inc. has pledged the highest percent of their gross revenue to the BLM movement, a whopping 104%. Gatsby is a small company and seems to be an anomaly.
TikTok is another (Chinese) business that has pledged a high percent of their gross revenue donating a total of $4,000,000 which is 3.36% of their gross revenue. TikTok is by far the biggest donation out of any major company. Why a Chinese company is funneling such massive amounts of money to controversial US domestic movement is anyone’s guess.
Other companies that have donated to the movement include Youtube who have donated 0.67% of their gross profit, Etsy 0.55% and software companies Niantic 0.56% and Help Scout 2.08%.
Philanthropists and individuals have been sharing their wealth with charities, with some pledging to give at least half of their wealth away during their lifetime, or when they die through the Giving Pledge. So, from the Forbes 400 list, which individuals are the most generous when it comes to donating to charity?
The table below shows the top 10 individuals who have donated the most share of their wealth to charity:
|Donor||Amount donated||Share of wealth donated (%)|
|John and Laura Arnold||$204,300,000||6.2|
|Pierre and Pam Omidyar||$392,000,000||3.4|
|Bob and Renee Parsons||$48,195,560||1.9|
|Marc and Carolyn Rowan||$50,000,000||1.6|
|Marc and Lynne Benioff||$100,300,000||1.6|
Looking at the amount of money donated, Michael Bloomberg comes top with a huge $767,000,000 being pledged to charities around the world, which is the equivalent of 1.4% of his wealth.