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

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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.

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