Billionaire investor Warren Buffett has pledged to give away 99% of his wealth. This year, the ‘Oracle of Omaha’ donated $2.9 billion.
And since 2006, Buffett’s total charitable donations have totaled $37 billion.
The vast majority of Buffett's donated money goes to the Seattle-based Bill and Melinda Gates Foundation, which, according to its website, seeks to "unlock the possibility inside every individual."
The remainder goes to The Susan Thompson Buffett Foundation, named for Buffett’s late first wife, and to three charities run by Buffett's children.
The Giving Pledge—a pledge by America’s wealthiest people to give the majority of their wealth away—was created by Bill and Melinda Gates and Warren Buffett. Buffet has said that wealth does not equal happiness.
"Some material things make my life more enjoyable; many, however, would not. I like having an expensive private plane, but owning a half-dozen homes would be a burden. Too often, a vast collection of possessions ends up possessing its owner. The asset I most value, aside from health, is interesting, diverse, and long-standing friends," said Buffett in a statement on www.givingpledge.org.
"My wealth has come from a combination of living in America, some lucky genes, and compound interest. Both my children and I won what I call the ovarian lottery. (For starters, the odds against my 1930 birth taking place in the U.S. were at least 30 to 1. My being male and white also removed huge obstacles that a majority of Americans then faced.)"
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