
Buffett announced that he would like to give more than 80 percent of his assets to charitable foundations. In 2020, Buffett increased his donation to 99 percent. Bill & Melinda Gates Foundation established by Bill Gates and Melinda (the Microsoft founder) was the main beneficiary. This foundation focused on education and global health. Bill and Buffett had been close friends since the 90s. The other organizations receiving donations included those run by Buffett's three children as well as the Susan Thompson Buffett Foundation, named in honor of his late wife, and focused on women's reproductive rights and funded college scholarship programs. The Giving Pledge was an invitation for other wealthy people to contribute a substantial portion of their wealth to charities, created by Buffett and Gates in 2010.
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