 Warren Buffett's decision last year to donate three-quarters of his €31bn fortune to Bill Gates's foundation to end disease in the Third World raised the bar in global philanthropy. The pressure is now on for the wealthy not just to give their wealth away, but to do so in a way that achieves maximum impact for their chosen causes. In America philanthropy is a way of life, and a high-profile sign that you've made it. US charitable giving is the highest in the world at 1.7% of GDP. The story in Europe is somewhat different. European philanthropists are less brash and less generous. According to The Charities Aid Foundation, individual giving in the UK is less than half that in the US, at 0.73% of GDP, and even lower in the Netherlands and Germany, at 0.45% and 0.22% respectively. Mark Evans, head of philanthropy at Coutts & Co, believes Americans have an apparent preference for supporting social services by giving to charity rather than the state. This is supported by the fact that those countries with highest rates of social taxation tend to have the lowest rates of giving and France is a case in point at just 0.14%. But there are signs that European philanthropy is on the up. The Sunday Times Rich List 2007 reports that the top 30 philanthropists in the UK pledged or donated €1.7bn to charities in the past year. At €11,500 a pop, there is growing demand for The Institute for Philanthropy's workshops, which train fledgling philanthropists, and a number of European private banks have also launched services to satisfy their clients' generous interests. There are a number of compelling reasons over and above pure altruism for individuals to be charitable. That donations to a good cause are a legitimate way to 'get one over' on the taxman is one, as is protecting offspring from the worst excesses of inheriting vast wealth. Warren Buffet has spoken about leaving his children with enough 'to do anything but not to do nothing.' While traditionally the purpose of philanthropic gestures was to have a library or gallery named after you, today's wealthy are increasingly undertaking what is being termed 'strategic philanthropy' "They are dispensing with chequebook charity," says Musa Okwonga from the Institute for Philanthropy. "They often come from business backgrounds, and are treating philanthropy as a second career in which they pursue their goals with the same rigour that brought them success in business or the financial markets." "They want to understand the root causes of issues, meet the people involved and see what impact their money has had," says Mark Evans. Rather than simply donating to homeless charities, strategic philanthropy addresses job creation, affordable housing, substance abuse and mental health issues. This business-like approach to philanthropy has seen organisations spring up, such as New Philanthropy Capital. Formed by a group of hedge fund managers, it researches charities as prospective investments, using techniques such as cost-benefit analysis, with a focus on the bottom line. So will Europe ever catch up with the US in the philanthropic league tables? While much European philanthropy goes on behind closed doors, headlines around multimillion-pound donations create a knock-on, emulative effect. While many wealthy individuals believe it isn't important for philanthropists to be recognised, publicity is not always founded in self-interest. Big givers: Notable European philanthropists  Sir Tom Hunter (right)
Where did it come from? Scotland's richest man. Founded Sports Division and sold the company to JJB Sports in 1998 for €416.5m.
How much? €1.4bn over the course of his life. €70.5m to Bill Clinton's initiative to fight poverty in Malawi and Rwanda.
Where is it going? To Scottish enterprise and to fight world poverty.
 Stelios Haji-Ioannou
Where did it come from? Founder of budget airline EasyJet.
How much? €704,000.
Where is it going? Education programmes for disadvantaged children from Greece, his country of birth.
 David and Heather Stevens
Where did it come from? Founders of Cardiff-based Admiral Insurance.
How much? Donated €144m or 87% of their fortune, resulting in an annual grant-making total of around €5m. Top of The Sunday Times Giving Index 2007.
Where is it going? Via the Waterloo Foundation, the developing world, climate change, children's development and more.
 Dame Anita and Gordon Roddick
Where did it come from? Founders of the Body Shop.
How much? Anita planned to give away her entire €146.5m fortune to good causes, before her death this year.
Where is it going? Human rights, environmental and humanitarian causes, including Body and Soul, which supports young people in the UK with HIV/AIDS.
 Arpad 'Arki' Busson
Where did it come from? French-born hedge fund millionaire.
How much? Raised over €25m at a charity auction dinner in May.
Where is it going? Founded Absolute Returns for Kids (ARK) for children orphaned in Eastern Europe and South Africa.
 Joanne 'JK' Rowling
Where did it come from? Author of the Harry Potter series.
How much? A 'substantial' portion of her €783m fortune. €31.6m raised for Comic Relief this year alone.
Where is it going? Children living in poverty in Eastern Europe through the Children's High Level Group, of which she is one of four trustees.
Christopher and Jamie Cooper-Hohn
Where did it come from? Hedge fund trader and his wife.
How much? €72.4m donation given to The Children's Investment Fund they set up, €7.3m worth of grants made in 2006.
Where is it going? To help children orphaned by AIDS in Kenya, Uganda, Malawi, Ethiopia and India.
 Anil Angarwal
Where did it come from? London-based Indian businessman and founder of mining company Sterlite.
How much? €733.3m.
Where is it going? To build the Vedanta University in Orissa, which aspires to become the 'Harvard of India'.
 Percy Barnevik
Where did it come from? World-renowned management strategist and industrialist. Chairman of Astra Zeneca until 2004.
How much? €10m.
Where is it going? Founded the charity Hand in Hand to eliminate child labour and promote education and empowerment of women in India.
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