Warren Buffett is known for his investment success. But the billionaire investor also is known for something else. And that's sharing the wealth. Through a philanthropy program launched in 2006, Buffett has pledged to give away, over time, more than 99% of his fortune.

This time of year may not be the holiday season. But for Buffett and his favorite foundations, it almost is. That's because, around now, in June and July, Buffett generally offers these big gifts. So, the chairman of Berkshire Hathaway is gearing up once again to offer billions of dollars in the company's shares to five different foundations. Which one will get the lion's share? Let's find out.

Buffett's donations this time around should reach $4.5 billion, according to calculations by Barron's. And the newspaper said $3.4 billion, in the form of 10.5 million Berkshire Hathaway class B shares, is set to go to the Bill and Melinda Gates Foundation. The other four foundations on the receiving list are run by Buffett's children. They're likely to split the remaining $1.1 billion, Barron's estimates.

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Source Fool.com