
Buffett declared that he intended to give more than 80 percent of his assets to charitable foundations. By 2020 he raised that amount to 99 percent. Bill & Melinda Gates Foundation was founded by Bill Gates and Melinda (the Microsoft founder) was the main beneficiary. The foundation focused on education and health in the world. Bill and Buffett had been friends since the 90s. Other organizations that were able to receive donations were those run by Buffett's children, and the Susan Thompson Buffett Foundation named after his late wife. This foundation focused on reproductive health for women and provided scholarships for college. In 2010 Buffett and Gates formulated the Giving Pledge. This pledge allowed other wealthy individuals to donate a majority of their wealth to charitable causes.
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