Melinda Gates
In October 2006, the Bill &amp; Melinda Gates Foundation was split into two entities: the Bill &amp; Melinda Gates Foundation Trust, which manages the endowment assets and the Bill &amp; Melinda Gates Foundation, which "... conducts all operations and grantmaking work, and it is the entity from which all grants are made". Also announced was the decision to spend all of the foundation's resources within 50 years after Bill's and Melinda's deaths. This was later lowered to within 20 years of their death. This would close the Bill &amp; Melinda Gates Foundation Trust and effectively end the Bill &amp; Melinda Gates Foundation. In the 2006 announcement, it was reiterated that Warren Buffett "... has stipulated that the proceeds from the Berkshire Hathaway shares he still owns at death are to be used for philanthropic purposes within 10 years after his estate has been settled".