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One of the most common ways entrepreneurs use to build wealth is real estate. Some will speculate on the direction property prices will go and win. Others will buy the worst home or office building on the block, fix it up, and then flip it for a profit. Regardless of the way real estate investors made their money, it is possible to build wealth through real estate. 

Some of those who have amassed a fortune through their real estate investments have become quite philanthropic with their wealth.Like Andrew Carnegie and John D. Rockefeller before them, many of today’s wealthy Americans believe that they must give back to the communities that allowed them to flourish. Philanthropy can serve a couple of great purposes. First, it will help out areas of the community or nation that can benefit others. Secondly, strategic gifts can benefit the giver as a tax avoidance strategy.

Many, if not most, real estate moguls are men. However, philanthropic giving that comes from real estate wealth tends to be driven by the wives of these men. People tend to give to charities that align with their values, and many tend to set long-term goals as to where they’d like their money to go. While Warren Buffett and Bill Gates did not achieve their wealth through real estate, they are adamant that they want their money to outlive them through the gifts that their foundations will provide. Many of those who made money in real estate is no different.

Real estate millionaires give to a variety of charities and philanthropic endeavors. For example, Sheldon and Miriam Adelson are billionaires who are known for their casinos. They’ve been quite generous in giving back to medical research and a variety of Jewish causes. J. Philip and Jennifer DiNapoli have given money to religious causes as well as those tied to education and the arts. Several other successful real estate investors have provided funds for medical and educational institutions. Many who have reached success in their real estate ventures keep much of their giving at home and provide grants to various groups that serve the communities they live in. In this way, they can build goodwill and benefit the places they call home.