Published: Thu, September 13, 2018
Research | By Raquel Erickson

Amazon’s Bezos unveils $2 billion philanthropic fund

Amazon’s Bezos unveils $2 billion philanthropic fund

They call their project the "Bezos Day One Fund". We'll use the same set of principles that have driven Amazon.

In a post to his Twitter account, Bezos said one part of the fund will give money to organizations and groups that provide shelter and food to young homeless families. There will also be full scholarships for Montessori-inspired preschools in "underserved" communities, he said.

Mr Bezos - reportedly worth more than $164bn - has faced criticism for not doing more philanthropic work.

A picture shared by Amazon chief Jeff Bezos on Instagram. Its vision statement comes from a fundraising campaign, "No Child Sleeps Outside", for Mary's Place, a Seattle homeless shelter that Amazon donated more than 47,000 square feet of space to in one of its buildings and which provides a home to 200 women, children and families. Public donations by the 54-year-old Bezos have been rare, and - with exceptions like a $35 million family donation to the Fred Hutchinson Cancer Research Center - typically on a scale far smaller than the two men just behind him in the wealth rankings, Microsoft co-founder Bill Gates and Berkshire Hathaway's Warren Buffett.

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

"The Bezos Family Foundation - and Jeff obviously has a role in that - has been engaged with early learning initiatives for years now", Burgess said, adding that it could only help the political momentum toward universal pre-K, as Seattle's preschool program is also once again on the ballot in November.

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.

Bezos and Amazon's board of directors are convening in Washington, D.C., this week ahead of a series of high-profile appearances for Bezos, who also is the owner of the Washington Post, among other personal properties.

Bezos has yet to sign the Giving Pledge, an initiative launched by Gates encouraging billionaires to commit to giving away most of their wealth.

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