Amazon’s Bezos unveils $2bn philanthropic fund

James Marshall
September 14, 2018

On Twitter, he posted a screenshot of an announcement pledging to donate $2 billion to fund "existing non-profits that help homeless families, and [create] a network of new, non-profit, tier-one preschools in low-income communities". The initiative will be called the Bezos Day One Fund, borrowing from Amazon's corporate mantra to approach tasks with the initiative of a startup's first day.

Bezos, with an estimated fortune of more than $160 billion, is now the world's wealthiest man, according to Forbes.

Bezos, the wealthiest person on the planet, whose stake in Amazon is now worth about $160 billion, says he'll call it the Bezos Day One Fund.

Its vision statement comes from Mary's Place, an emergency shelter in Seattle. The fund will also launch and operate a network of high-quality Montessori-inspired preschools in underserved communities. Since March 2016, Amazon customers have also been able to order items from the Mary's Place's wishlist on the site, such as diapers and socks. "September is Childhood Cancer Awareness month", he wrote saying Amazon employees around the globe will be wearing pjs to work to show their solidarity and support to children suffering from the deadly disease.

Insanely rich human being Jeff Bezos announced today his intention to do something he rarely ever does: philanthropy. In 2012, he donated $2.5 million to uphold Washington state's same-sex marriage law. Bezos' relative silence was a stark contrast to peers like Bill Gates and Warren Buffett who have given away tens of billions. The following week, Bezos will speak at the Air Force Association conference in National Harbor, an appearance tied to his rocket company, Blue Origin. Bezos also plans to pay a visit to The Washington Post, which he owns.

But then he changed his tune.

More than a year ago, Bezos posted to Twitter a request for suggestions on philanthropic initiatives created to make a difference in the short term. He said he was mulling a philanthropic strategy that is "the opposite of how I mostly spend my time".

Other reports by Click Lancashire

Discuss This Article

FOLLOW OUR NEWSPAPER