In 2008 Buffett had an estimated net worth of $62 billion making him the richest person in the world.

On Monday Warren Buffett announced that he donated roughly $2.84 billion in Berkshire Hathaway Inc stock last week to the Bill and Melinda Gates Foundation alongside four other family charities.

Buffett has been donating Berkshire stock since 2006, with the largest share going to the Bill and Melinda Gates Foundation after he praised their charity work. In addition he gave Class B Berkshire shares to his own foundation and the foundations run by each of his three children.

Buffett has dedicated almost all of his accumulated wealth to philanthropy, giving about $2.8 billion last year to the five organizations. This year is his 10th annual donation made up of 20.64 million Class “B” shares of Berkshire which has increased Buffett’s total contributions to the charities to more than $21.5 billion.

The Gates Foundation which aims to improve education and health and reducing poverty, receives the biggest share of Buffett’s donation. The Foundation has made over $30 billion in grants for causes such as education in the U.S. and health in the developing world.

Bill Gates, 59, has a net worth of more than $80 billion and is the richest man in the world, according to the Bloomberg Billionaires Index. Buffett, 84 has a net worth exceeding $64 billion which ranks him as the second-richest man in the U.S. and fourth-richest worldwide.

Typically Buffett makes his donations in July, giving away 5 percent of his shares each year mostly causing the cash amount to increase relative to Berkshire’s stock price. The charities then sell the donated shares to finance their operations reflecting Buffett’s desire for the money to be spent on the causes.