Jeff Bezos is donating money to fix a problem his company perpetuates

Share
Jeff Bezos is donating money to fix a problem his company perpetuates

The charitable fund will "focus on two areas", Bezos explained: "funding existing non-profits that help homeless families, and creating a network of new, non-profit, tier-one pre-schools in low-income communities".

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

The Amazon founder, the world's wealthiest person, offered detail on his philanthropic goals, announcing the Bezos Day One Fund, which will begin with an initial $2 billion. When Seattle passed a tax in May on large companies to fight the city's growing homelessness crisis, Amazon balked and even temporarily halted construction planning on a new high-rise building near its headquarters.

An Amazon spokesman didn't have details on who would run Bezos' new initiative, or where the group would be based. "In the caption, he wrote, "September is Childhood Cancer Awareness month", he further wrote that Amazon employees around the globe will be wearing pjs to work to show their solidarity and support to children suffering from the deadly disease".

He also operates the private space exploration firm Blue Origin and owns The Washington Post newspaper.

The Bezos cash injection follows the philanthropic efforts of other billionaires including Microsoft's Bill Gates, who has donated tens of billions to his foundation.

"We will build an organisation to directly operate these schools".

Bezos asked for suggestions for philanthropic focuses in a tweet past year.

Last year, he donated $33 million to fund scholarship for "dreamers", the name given to undocumented children of immigrants who face legal obstacles in attending college or university. As per the current Giving Pledge signatory, Bezos is not participating. Amazon's digital assistant Alexa has helped drive its hardware sales and is used on smart devices ranging from cars to refrigerators. The Seattle-based Bill and Melinda Gates Foundation as the world's largest private nonprofit foundation has an endowment worth over $40 billion USA and has long supported homelessness services for families in the city.

Share

Advertisement

Related Posts

Time almost up: Fierce Hurricane Florence aims at Southeast - Story | WFLD
Because the storm was so strong earlier in the week, it built up a wall of water which will push inland as the storm surge. On Thursday morning, South 17th Street, usually teeming with commuter traffic by 6:30 a.m., was almost devoid of cars.

OnePlus 6T will not have a headphone jack
The earphones will be launched alongside the company's next device - expected to be called the OnePlus 6T - in the coming quarter. Along with a hint that its next flagship device will come with an in-display fingerprint sensor .

Apple's $29 iPhone battery replacements will cost $69 after December
A dongle is a device used to connect a pair of headphones into a new Apple device, as any pair of non-Apple headphones don't fit. The iPhone XR is the cheapest device with the 6.1 LCD screen with a resolution of 1792 x 828 pixels.

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 .

Mobile, Ericsson Sign Major USD 3.5 Billion 5G Agreement
This comes on top of another $3.5 billion deal T-Mobile signed with Nokia . Articles appear on euronews.com for a limited time.

Sam's Club Offers $100 Off iPhone Xs, iPhone Xs Max Buy
If you want a 2018 iPhone (and not the iPhone 8, 8 Plus or iPhone 7), you can keep a little more money in the bank. But hey! There's IP68 water resistance on offer here, and a new Gold color in addition to Silver and Space Gray.

Hurricane Florence looms over East Coast — WHAT’S HAPPENING
Boarding up his home in Myrtle Beach, South Carolina, Chris Pennington watched the forecasts and tried to decide when to leave. Thinking of the outages likely to come, it also warns to use grills and generators outside - away from doors and windows.

Apple Introduces $749 6.1-inch iPhone Xr
The fourth generation of the watch sees a major revamp in its specifications and the most visible external design change to date. And like the XS and XS MAX, the XR features Smart HDR, which preserves better highlight and shadow details across photos.

Hugo Lloris will remain as Tottenham captain on return from injury
The 31-year-old missed Spurs' Premier League game at Watford on 2 September and both of France's matches during the global break. Lloris was on Monday fined £50,000 ($65,000) and handed a 20-month driving ban for drink-driving.

Freeland to head back to Washington for high-level NAFTA negotiations
Trump wanted changes that would destroy family farms across Canada, he said. "I think it will be gone". The announcement by the US trade representative comes one week earlier than previously indicated.

© 2015 ExpressNewsline. All Rights reserved.