
Buffett announced that he planned to donate more than 80 percent of his wealth to charitable foundations. In 2020, Buffett increased his donation to a whopping 99 percent. Bill & Melinda Gates Foundation established by Bill Gates and Melinda (the Microsoft founder) was the first recipient. The foundation focused on education and health in the world. Bill and Buffett had been close friends since the 90s. The other organizations receiving donations included those that Buffett's 3 children and the Susan Thompson Buffett Foundation, named in honor of his late wife, which concentrated on women's reproductive rights and also funded college scholarship programs. The Giving Pledge was an invitation for other wealthy people to contribute a substantial portion of their fortune to charities established by Buffett and Gates in 2010.
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