Many companies are catching on to the fact that philanthropy may be that hidden gem you only recognise after taking a second glance. There are many benefits that accrue to a business after it engages in philanthropic activities and some companies will not be outdone in this regard. So who are the “top givers” or most generous companies among the bunch? We compiled a list of the top 5 businesses that do the most giving. Go through our list to find out who made the cut.
One of the most generous companies in the world, if not the most generous by sheer volume of amount donated, Pfizer is keeping its head above the wave of dislike that seems to be aimed at pharmaceuticals in recent times. The company donated $93.3 million in cash according to the Chronicle of Philanthropy in 2015. Unto that is also added $3.15 billion in products that company gave out that year.
- Gilead Sciences
Gilead Sciences boosted its donations by almost two-thirds in 2015. This was most likely a result of the surge in revenue that the biotech firm enjoyed after it stepped into the Hepatitis C market. According to the Chronicle of Philanthropy, Gilead Sciences gave away $446.73 million in cash donations in 2015, as well as $1.87 billion in product giveaways. A lot of this cash is given out in reaction to requests from various non-profit organisations. According to statements from the company a significant part of this money doled out went to battle liver disease and HIV/AIDS.
- Merck & Company
Merck completes the presence of pharmaceutical and bio-tech companies among the top 5 companies that carry out philanthropy. A lot of their giving has been aimed at reducing maternal mortality among the less privileged. For example, in Senegal Merck partnered with the Bill & Melinda Gates Foundation to aid the Senegalese government to develop a network of entrepreneurs to take up the supply of contraceptives to rural health clinics. Merck benefits from this directly by a strengthening of health systems. According to Chronicle of Philanthropy, the company gave $132.54 million in cash donations in 2015 and $1.68 billion in products.
The Number 1 Company on the Fortune 500, and also one of the most generous, Wal-Mart has not missed the opportunity to give when it mattered. Among its many philanthropic efforts was its pledge of $100 million to advance economic mobility for workers. The company also works with non-profits such as Feeding America to distribute fresh produce to people in need, as well as provide logistics for then organisation. According to the Chronicle of Philanthropy, Wal-Mart gave $301 million in cash donations in 2015, and $1.1 billion in product offerings.
A lot of the philanthropy that Google does is through supporting organisations that are developing bold, innovative solutions to social problems. Non-profits like GiveDirectly which offers direct cash aid to the poor have seen their services benefitting from this largesse. According to Chronicle of Philanthropy, Google donated $167.83 million in cash donations in 2015, as well as$1 billion dollars in products.
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