
Buffett announced that he was planning to give more than 80 percent of his wealth to foundations that support charitable causes; in 2020 he raised that amount to a whopping 99 percent. Bill & Melinda Gates Foundation was the biggest beneficiary. It was created by Bill Gates, Microsoft founder, and his wife Melinda. They focused on health and education in the world. Bill and Buffett have been close friends since the early 1990s. The other organizations that received contributions included those run by Buffett's children and the Susan Thompson Buffett Foundation, named after his late wife, which concentrated on women's reproductive rights and funded college scholarship programs. In the year 2010 Buffett as well as the Gateses established the Giving Pledge, an invitation for wealthy individuals to give the bulk of their money to charities.
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