In June 2006, Buffett announced his plans to contribute 10 million of his Berkshire Hathaway Class B shares to the Bill & Melinda Gates Foundation, worth approximately $36 billion. This is said to be the largest single charitable donation in history. The foundation will receive 5% of the total donation on an annual basis in July, beginning in 2006. Buffett also plans to donate his remaining Berkshire shares to his family’s foundation headed by his three kids. His children will not inherit a significant portion of his wealth as he intends to use it for the good of humanity. “I want to give my kids enough so that they could feel that they could do anything, but not so much that they could do nothing,” says Buffett.
Buffett Gives away his fortune, read more.