Amazon's Jeff Bezos to start $2B United States charitable fund

Share
Amazon's Jeff Bezos to start $2B United States charitable fund

Also on Thursday, Bezos said he will commit $2 billion to helping homeless families and starting pre-schools for low-income communities. The first will fund existing nonprofits and issue annual awards to organizations doing "compassionate, needle-moving work" to shelter and support the immediate needs of young families.

The second will launch a network of "high-quality, full-scholarship" preschools in low-income communities, which a Day One Fund organization will directly operate.

Bezos made the announcement on Twitter a year after asking for ideas on how he could use his personal fortune - now estimated at more than $160 billion - for charitable efforts. "The media is going to be fine", Bezos said, according to AFP, before paraphrasing Post editor Marty Baron: "The administration may be at war with us, but we are not at war with the administration".

In his Instagram post Jeff Bezos said "Amazonians" were wearing pyjamas to work "across the globe" to raise awareness of childhood cancer.

But in the world of ultra-rich tech philanthropists, it's roughly on par with other do-gooding efforts.

"We're hoping that local, state and federal governments see this as a call to invest more in preschool and childcare", he said.

However, he has recently said he is looking to use his wealth for philanthropy, following in the footsteps of Bill Gates and Mark Zuckerberg.

The $2bn also falls short of the "giving pledge" initiative launched by Mr Gates and billionaire investor Warren Buffett, who have encouraged wealthy individuals to pledge half their fortunes for philanthropy.

He also operates the private space exploration firm Blue Origin and owns The Washington Post newspaper. In January, Bezos also personally gave $33 million USA in college scholarships for young immigrants living in the U.S. illegally.

The staggering fortunes of the likes of Bezos, Gates and Facebook CEO Mark Zuckerberg have created a second Gilded Age in the U.S. and "a new generation of megagivers", Callahan said.

He said he did not know how much money he would eventually give away.

The Amazon chief's wealth has become problematic for some. "It was a Day 1 outlook that made me reach out to ask for suggestions on approaches to philanthropy previous year". "What the president should say is, 'This is right, I'm glad I'm being scrutinised.' That would be so secure and confident".

Share

Advertisement

Related Posts

Man-made climate change is boosting Hurricane Florence's predicted rainfall by 50 percent
Watching the scene unfold from space, German Alexander Gerst, an astronaut on board the ISS, tweeted photos of the enormous storm. Coastal counties Carteret, Craven and Pender are experiencing the most outages as Hurricane Florence begins to batter the coast .

Dele Alli and Hugo Lloris
Alli will miss the game due to a hamstring injury suffered on England duty, while Harry Kane is reportedly below full fitness too. On Wednesday, he was fined £50,000 and banned from driving for 20 months after admitting drink-driving .

The Ottawa Senators Trade Erik Karlsson To The San Jose Sharks
Last season, Melnyk angered Ottawa fans by musing to reporters that he might move the club if ticket sales didn't pick up. After a long summer of speculation, the Ottawa Senators have traded captain Erik Karlsson to the San Jose Sharks .

Nintendo Entertainment System Controllers Announced for Switch’s Online Members
Additionally, purchasing the NES Joy-Cons will require a paid membership to Nintendo Switch Online , as one of the special offers. Ultimate, some more info about that new Yoshi game , and if you're feeling really lucky, an Animal Crossing Switch announcement.

Watford stay ideal and dent Tottenham Hotspur's title credentials
I am more than happy to keep all the players and I am more than happy if they leave, and we play with the under-23s. We need to be better. "If you want to be a contender you can not concede the type of goals we conceded".

Jose Mourinho doesn't trust Marcus Rashford at Man Utd, says Phil Thompson
Possibly Everton is the sort of club you are looking at, just below the top six, for someone like Rashford, similar to what Lukaku did. "They have to rotate their squads".

SEA 98, WASH 82: Stewart, Storm surge past Mystics for WNBA title
The now WNBA champions won the battle of the boards, 39-28, and shot a ridiculous 13-for-26 from beyond the arc. For Stewart, she claimed the Finals MVP to add to her league MVP award. "We're already onto the next thing".

Keegan Bradley wins BMW Championship
He is more likely to win the event and get his first victory of the season because he is only a couple shots off the lead. Rose, the 54-hole leader, shot 3-under 67 and had a 15-footer for par on 18 that would have given him the win.

China welcomes United States trade talks offer as new tariffs loom
Trump and his advisers have argued that the tariffs are necessary to pressure Beijing to abandon unfair practices . That prompted worries it would use regulatory controls to disrupt USA business operations in China.

Forza Horizon 4 demo is out today
From the ice and snow of winter time to the blazing summer heat, each season has its own charms and challenges. You can also earn Influence by streaming Horizon 4, and you'll get larger rewards for attracting more viewers.

© 2015 ExpressNewsline. All Rights reserved.