Charity is not a modern phenomenon by any means, but has an abundant and progressing history that extends over 2 thousands years.
One might, when one hears the word philanthropy, quickly think about a handful of famous philanthropists who are well known for handing out their fortunes to causes that they appreciate. This is something that has held true for lots of thousands of years, with the first recorded example of institutionalised philanthropy, along with the source of the philanthropy meaning and word, occurring over 2 thousand years back in ancient Greece. Throughout this duration, the word indicated something more akin to 'loving of one's fellow man', or humanism, than the constraints of wealth one might apply to the term now, but nonetheless wealthy people played an important charity role in the culture. Rich people were expected to give back to the society, helping to install the cash for repair work to public works like city walls or temples as well as funding festivals and other public events. Being stingy was not regarded well, and if a wealthy individual was not seen to be a benefactor, they could be ostracised from the community completely.
Many different entities have actually been responsible for charity work throughout the ages. Although rich people and celebrity philanthropists may be viewed as the central charitable force in the contemporary world, that is not always entirely correct, nor has it been for much of history. In the middle ages, it was spiritual organizations like the church that would have been the main charitable centers, both within the town and on larger level ventures. That changed with the coming of industry when rich individuals became more powerful, and after that shifted again towards the end of the 19th century when foundations started to emerge that were better organised and could dedicate more attention to getting things done. This is much the same manner in which charity is structured today, whether those foundations are created by grassroots groups, rich individuals, or businesses like SJP.
The manner in which charity has actually been financed has changed a good deal throughout the course of human history, moving between various entities which hold the most power and wealth, just as the focus of charity work has actually altered as various needs have emerged. These days, there are a great many problems that have to be resolved, from widening inequality to the climate crisis, and charity will inevitably play an important role in that process. Wealthy individuals with checking account that would make a middle ages kings blush have their part to play, however so do the businesses that are the main centers of financial generation in the 21st century through things like corporate philanthropy. Whether that is establishing a foundation of their own or developing ESG dedications, businesses like Morgan Stanley and Vanguard Group are beginning to do so.