Latinos Flexing Their Philanthropic Power

Latinos Flexing Their Philanthropic Power
The Financial Times finds that while Latinos still hold a tiny proportion of US wealth -- about 2.2%, according to the Federal Reserve -- the number of wealthy individuals is growing and many are starting to give to the arts and social causes. Traditionally, Latinos had focused on remittances or giving to churches and religious institutions, but the new trend has been influenced by the needs of underprivileged Latino communities in the U.S. It has helped that celebrities like Lin-Manuel Miranda, Ricky Martin, and Gloria Estefan have raised the profile of charitable giving. FT also profiles some of the largest and most influential Latino donors, including Thomas Meléndez and Aixa Beauchamp, Ella Fontanals-Cisneros, and Isabel Allende.