Millennials and Gen Xers are facing down one of the greatest transfers of wealth in history—with some $124 trillion expected to change hands by 2048. But as wealth inequities simultaneously reach new extremes, the transfer has amplified questions about whether wealthy families are moving fast in their promises of impactful giving.
According to a new report from the Milken Institute about the shifting dynamics of philanthropy, the tension is setting the stage for a “reckoning” in the sector as younger generations gain more influence over family checkbooks.
