Amazon CEO Jeff Bezos launches a $2 billion philanthropic fund

Sources News reports and announcements

Sources News reports and announcements

Earlier this year Amazon played a pivotal role in diminishing and ultimately defeating a Seattle business tax to fund homelessness services and affordable housing.

It's good that Bezos understands that there is a poverty problem, but by throwing his money at third-party organizations-and not focusing on fixing the systemic income gaps his company creates-he is only further proving the point of those who critique the tone-deafness of tech billionaires.

Concerns surrounding Amazon's size and squeezing of its competition has led to calls for the online retailer to be carefully policed by regulators. The couple pledged that they would contribute $1 billion a year to the cause for three years, and that Zuckerberg would endow the effort with 99 percent of his Facebook shares, which were worth $45 billion at the time. "So when someone like Jeff Bezos admirably steps into the area of giving, it's helpful but we also have systematic problems in wages and labor, healthcare and education, that need to be addressed at the root".

Aside from discussing antitrust concerns, Bezos touched upon a number of other topics, including why he pays little attention to daily stock price movements.

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Now, Bezos has announced the Bezos Day One Fund, which he and his wife MacKenzie will use to fund existing organizations that help homeless families and to create a "network of new, non-profit, tier-one preschools in low-income communities".

Mr Bezos solicited ideas on Twitter a year ago for ways to donate some of his wealth.

Jeff Bezos, Chairman and CEO of Amazon, speaks at the George W. Bush Presidential Center's Forum on Leadership in Dallas, Texas, US, April 20, 2018.

Gates did not fully throw himself into philanthropy until he stepped down as CEO of Microsoft in 2000.

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The private non-profit foundation in its 2016 tax filing reported almost $46 million U.S. in assets, and giving away $30 million United States in grants support its missions in early education, K-12 schools reform and youth leadership development and scholarships. "It's also the social norms that protect us". Alibaba owns the South China Morning Post.

As mentioned by Jeff, people from around the world were showing up in their pajamas to work to stand in solidarity with kids who spend months and years in their pajamas while receiving medical treatment for cancer.

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With a personal fortune of $163.8 billion, according to the Bloomberg Billionaires Index, the Amazon.com Inc. chief executive officer had previously been largely invisible in the world of philanthropy. Amazon is designating 47,000 square feet of space at its new corporate office for a permanent Mary's Place shelter.

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