Get all your news in one place.
100's of premium titles.
One app.
Start reading
Fortune
Fortune
Preston Fore

Even as Elon Musk calls philanthropy ‘very hard,’ Americans gave a record $617 billion anyway—as households felt the squeeze over the cost of living

Elon Musk with a black DOGE hat (Credit: ALLISON ROBBERT/AFP via Getty Images)

2025 brought a mixed picture for the U.S. economy. The stock market ended the year with double-digit gains, but inflation had not fully faded—leaving prices for everyday essentials like groceries and utilities elevated and many households still feeling squeezed. Still, many Americans found room in their budget to give to others.

U.S. charitable giving reached a record $617.2 billion in 2025, according to a new report from Giving USA Foundation, researched and written by Indiana University’s Lilly Family School of Philanthropy.

Sign up to read this article
Read news from 100's of titles, curated specifically for you.
Already a member? Sign in here
Related Stories
Top stories on inkl right now
One subscription that gives you access to news from hundreds of sites
Already a member? Sign in here
Our Picks
Fourteen days free
Download the app
One app. One membership.
100+ trusted global sources.