
Buffett announced that he was planning to give over 80 percent of his assets to charitable foundations. In 2020, Buffett increased his donation to a whopping 99 percent. Bill & Melinda Gates Foundation, created by Bill Gates and Melinda (the Microsoft founder) was the first recipient. The foundation focused on education and global health. Bill and Buffett had been friends since the 1990s. Other charities that received donations included those run by Buffett's children and the Susan Thompson Buffett Foundation, named for his wife who passed away, which concentrated on women's reproductive rights and also funded college scholarship programs. In 2010, Buffett as well as the Gateses came up with the Giving Pledge, an invitation to wealthy people to contribute the majority of their wealth to charitable causes.
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