Wealth for impact

An exclusive group of philanthropists, impact investors, entrepreneurs, and impact professionals from the wider Circle family gathered in Dubai to hear about a new report about next-gen wealth management and impact.

“Wealth for impact: global perspectives from the next generations of wealth holders” was produced by LGT Philanthropy Advisory, based on more than 60 interviews with individuals from 30 different countries, aged between 18 to 77, who are representing the second to the 26th generation of wealth-owning families.

One of the report’s co-authors, Nina Hoas, shared top-level insights from the study, which is shaped around how wealth is created, invested, spent, given, and transferred.

“Philanthropic giving among next generations of wealth holders varies widely in terms of approach and amounts,” she explained. “It can range from less than one per cent of wealth to an intended one hundred per cent and they support various causes, with many preferring to be personally involved.” There also “a growing recognition of the importance of systems change to address pressing global problems,” she noted.

The presentation of the report was followed by a fireside chat with Hassan Kassam, a Dubai-based next-gen who is featured in the study. Kassam explained why he was focusing on high-impact tech investments, talked about the work of the Kassam Family Foundation, and reflected on the importance of family values.