
Buffett announced that he will spend more than 80 percent of his money to charitable foundations. In the year 2020, he increased that number to a whopping 99 percent. The principal beneficiary was the Bill and Melinda Gates Foundation, founded by Microsoft founder Bill Gates and his then wife, Melinda. It was dealt with issues of global education and health. Bill and Buffett have maintained a close friendship since the early 1990s. The three Buffett children as well as the Susan Thompson Buffett Foundation (named after his wife) were among the organizations that were the recipients of donations. They were concerned with reproductive rights for women, funded college scholarships, and had various other charitable organizations. In 2010, Buffett together with Gates created the Giving Pledge. This pledge encouraged other wealthy people to contribute a significant portion of their fortunes to charitable organizations.
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