By Patricia Uyeh,

Warren Buffet, the second  richest man in the United States, set another personal record after he donated a whooping sum of $3.17 billion to the  Bill & Melinda Gates Foundation and four family charities.

The billionaire business magnate also funded the charity organisations of his children- the Howard G. Buffett Foundation, the Sherwood Foundation and the NoVo Foundation — which are run by Howard, Susan and Peter Buffett, respectively.

In 2006, Buffett announced plans to gradually donate all his Berkshire Hathaway shares.It was a promise that took on a new life in 2010, when Buffett launched The Giving Pledge with Bill Gates.

The initiative encourages the world’s billionaires to dedicate the majority of their wealth to philanthropy.

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