Some of the wealthiest Emiratis donate more than US$10 million each over the course of their lives, a study has found.
These ultra-wealthy philanthropists are defined as those who have net assets of at least $30m.
The global figure for such individuals is $28.7m, the report by Wealth-X, a global wealth intelligence provider and Arton Capital, an international financial advisory showed yesterday.
“The UAE is one of the most prosperous countries on earth, and makes huge contributions through philanthropic giving, but more can always be done to bridge the gap between the world’s richest and poorest,” said Armand Arton, the president and chief executive of Arton Capital.
In July, one of the UAE’s most prominent business families, Al Ghurair, said it would give a third of its wealth – more than $1billion – to charity. Abdullah Al Ghurair, the head of the eponymous Dubai-based conglomerate best known as founder-owner of Mashreq bank, unveiled the Abdullah Al Ghurair Education Foundation and pledged Dh4.2bn to fund its first 10 years.
Similar moves were echoed in Saudi Arabia when Prince Alwaleed bin Talal pledged to direct most of his $32bn fortune towards charitable purposes in the kingdom.
Global philanthropic giving among the world’s ultra-wealthy last year reached $112bn, reflecting a surge of 25 per cent from 2004 and up 6.4 per cent year-on-year, according to the report.
Education remained the top cause that ultra-wealthy people donate to, followed by health.
The refugee crisis also ranked high in terms of importance. About 4.3 million Syrians are registered as refugees, the study showed – out of the estimated 60 million refugees worldwide. Providing shelter, education and a stipend for the 4.3 million Syrian refugees would cost about $60.2bn, the report showed.
As it stands, about 7,441, or 1 in 28 ultra-wealthy people, gave a total of US$2.7bn to the refugee crisis. The average amount of donation was $357,500.
In terms of total donations, India had the most generous donors, followed by the United Kingdom and Hong Kong. But based on donations as a percentage of net worth, the UK ranked on top of the list of the most generous donors, followed by the United States and Hong Kong.
selgazzar@thenational.ae
Squad: Majed Naser, Abdulaziz Sanqour, Walid Abbas, Khamis Esmail, Habib Fardan, Mohammed Marzouq (Shabab Al Ahli Dubai), Khalid Essa, Muhanad Salem, Mohammed Ahmed, Ismail Ahmed, Ahmed Barman, Amer Abdulrahman, Omar Abdulrahman (Al Ain), Ali Khaseif, Fares Juma, Mohammed Fawzi, Khalfan Mubarak, Mohammed Jamal, Ahmed Al Attas (Al Jazira), Ahmed Rashid, Mohammed Al Akbari (Al Wahda), Tariq Ahmed, Mahmoud Khamis, Khalifa Mubarak, Jassim Yaqoub (Al Nasr), Ali Salmeen (Al Wasl), Yousef Saeed (Sharjah), Suhail Al Nubi (Baniyas)
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Water waste
In the UAE’s arid climate, small shrubs, bushes and flower beds usually require about six litres of water per square metre, daily. That increases to 12 litres per square metre a day for small trees, and 300 litres for palm trees.
Horticulturists suggest the best time for watering is before 8am or after 6pm, when water won't be dried up by the sun.
A global report published by the Water Resources Institute in August, ranked the UAE 10th out of 164 nations where water supplies are most stretched.
The Emirates is the world’s third largest per capita water consumer after the US and Canada.
Armies of Sand
By Kenneth Pollack (Oxford University Press)
Three ways to limit your social media use
Clinical psychologist, Dr Saliha Afridi at The Lighthouse Arabia suggests three easy things you can do every day to cut back on the time you spend online.
1. Put the social media app in a folder on the second or third screen of your phone so it has to remain a conscious decision to open, rather than something your fingers gravitate towards without consideration.
2. Schedule a time to use social media instead of consistently throughout the day. I recommend setting aside certain times of the day or week when you upload pictures or share information.
3. Take a mental snapshot rather than a photo on your phone. Instead of sharing it with your social world, try to absorb the moment, connect with your feeling, experience the moment with all five of your senses. You will have a memory of that moment more vividly and for far longer than if you take a picture of it.
Scorebox
Dubai Hurricanes 31 Dubai Sports City Eagles 22
Hurricanes
Tries: Finck, Powell, Jordan, Roderick, Heathcote
Cons: Tredray 2, Powell
Eagles
Tries: O’Driscoll 2, Ives
Cons: Carey 2
Pens: Carey
'Ghostbusters: From Beyond'
Director: Jason Reitman
Starring: Paul Rudd, Carrie Coon, Finn Wolfhard, Mckenna Grace
Rating: 2/5
