
Buffett announced that he planned to give over 80 percent of his money to charitable foundations; in 2020 he raised that amount to 99 percent. Bill & Melinda Gates Foundation which was established by Bill Gates and Melinda (the Microsoft founder) was the main beneficiary. The foundation focused on education and global health. Bill and Buffett had been friends since the 90s. 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 reproductive health for women and was able to provide scholarships for college. In 2010 Buffett and Gates came up with the Giving Pledge. This pledge also encouraged other wealthy individuals to give the majority of their fortunes to charitable organizations.
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