Philanthropy is often observed as an act of redistributing money away from the rich to the poor. While that may have been the case in the past, it has become a key operational strategy for family businesses to solidify their brand value and provide numerous tax benefits when done correctly. It is not surprising that family offices are therefore being increasingly aggressive with their philanthropic investment goals. In fact, a recent Campden report highlighted that nearly 86% of Asia-Pacific (APAC) family offices were involved in philanthropic giving, in contrast to 76% of American and 67% of European family offices.
Let us dive deeper into what makes philanthropy so important for ultra-wealthy families.