
Buffett announced that he planned to give over 80 percent of his money to charitable foundations. By 2020, he increased the amount to a whopping 99 percent. Bill & Melinda Gates Foundation was founded by Bill Gates and Melinda (the Microsoft founder) was the principal beneficiary. The foundation focused on education and global health. Bill and Buffett had been in contact since the 1990s. The three Buffett children and the Susan Thompson Buffett Foundation (named after his wife) were among the foundations that received donations. They were concerned with women's reproductive rights, provided college scholarshipsand additional charities. The Giving Pledge was an invitation for other wealthy people to donate a significant portion of their assets to charities, created by Buffett and Gates in the year 2010.
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