In 2010, Buffett and Bill Gates created the Giving Pledge.

Buffett's frugality is a trademark of his "brand." The 89-year old doesn't own a cellphone and prefers to travel on public transportation. This does not mean Buffett is a stingy miser.

In 2016, he beat his own personal philanthropic record by donating $2.86 billion worth of Berkshire Hathaway stock to numerous charities, including The Bill and Melinda Gates Foundation. That donation brought his lifetime givings to more than $28.5 billion.

In addition, Buffett and fellow billionaire Bill Gates agreed to donate at least half of their fortunes to charity when they created and signed the Giving Pledge.

Since 2010, over 150 people have made the pledge, including Facebook's Mark Zuckerberg.

Source: Forbes