Billionaires want to use their fortunes to make a positive impact, says the ‘Billionaires Ambitions Report 2022’ from UBS. A poll of its richest clients found that 95 per cent believe they should use their wealth to tackle the big issues and two thirds say it’s their duty to “lead the way” in this regard. They believe their money can make the most difference in smart agriculture and clean water and sanitation. Broader areas of economic development and poverty alleviation were other common responses. More than half will use their business capital to do things such as cutting greenhouse gas emissions, treating wastewater, or improving access to education. Just over a third of billionaires do this via investing and roughly the same proportion through philanthropy.
- PWC