Buffett announced that he planned to give over 80 percent of his wealth to charitable foundations. By 2020, he increased the amount to a whopping 99 percent. The foundation that received the most money was the Bill & Melinda Gates Foundation, founded by Microsoft founder Bill Gates and his then wife Melinda. The foundation was is focused on global education and health; Bill and Buffett kept a close friendship since the early 1990s. Other organizations that received donations were those run by Buffett's children and the Susan Thompson Buffett Foundation named after his late wife. This foundation focuses on reproductive health of women and funded scholarships for college. In the year 2010, Buffett and Gates formulated the Giving Pledge. This pledge encouraged other wealthy people to give a large portion of their fortunes to charitable organizations.
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