
Buffett announced that he will spend more than 80 percent of his money to charitable foundations. In the year 2020, he boosted that percentage to 99 percent. Bill & Melinda Gates Foundation which was established by Bill Gates and Melinda (the Microsoft founder) was the main beneficiary. The foundation was focused on education and global health. Bill and Buffett had been friends since the 1990s. Other charities that received donations included the ones run by Buffett's children, and the Susan Thompson Buffett Foundation named after his late wife. The foundation was focused on women's reproductive health , and funded scholarships for college. In 2010 Buffett and Gates came up with the Giving Pledge. This pledge invited other wealthy individuals to give the majority of their fortunes to charities.
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