Amazon’s Bezos unveils $2 billion philanthropic fund

Amazon’s Bezos unveils $2 billion philanthropic fund

Picture taken on April 20, 2018.

The Day 1 Families Fund will make annual awards to organizations "doing compassionate, needle moving work to provide shelter and hunger support to address the immediate needs of young families", while the Day 1 Academies Fund will start and operate a network of "full-scholarship, Montessori-inspired preschools in underserved communities", Bezos said.

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.

Bezos, who founded Amazon as an online book store more than two decades ago, has seen his wealth surge along with Amazon's stock.

Earlier this year, under pressure from Amazon and other large employers, Seattle's City Council repealed an employee head tax created to provide housing and services for the homeless.

More news: Pope Francis Orders Investigation Of US Bishop After Church Leaders Meet
More news: Myanmar's Suu Kyi defends jailing of two Reuters journalists
More news: Ericsson Signs $3.5 Billion 5G Agreement With T

Earlier this year Amazon played a pivotal role in diminishing and ultimately defeating a Seattle business tax to fund homelessness services and affordable housing.

He has also been criticized for not contributing his fortune to philanthropy like other billionaires have, including Microsoft founder Bill Gates and Berkshire Hathaway's Warren Buffett.

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. The most notable involving more than $40 million United States to the local nonprofit FareStart - a hospitality training program and restaurant business that aims to combat homelessness and poverty - and Mary's Place, whose mission to find and provide shelter for every child.

Bezos and his wife MacKenzie Bezos sit on the board of the Bezos Family Foundation, run by his parents. "We will build an organization to directly operate these schools", he added.

Jeff Bezos, Amazon chief and the world's richest person, attended a board meeting in pyjamas on Wednesday and shared the new look on Instagram. This year, Gates also announced it was taking up systemic poverty in the U.S.

Related Articles

  • Conservative lawmakers discuss ousting British PM May

    Conservative lawmakers discuss ousting British PM May

    They have also said there is no need to leave without a deal and have accused opponents of Brexit of scare-mongering. The rift deepened this week with Johnson comparing May's plan to a "suicide vest" on Britain's constitution.
    Rafael Nadal dragged in to Serena Williams ‘bulls***’ by fellow ace

    Rafael Nadal dragged in to Serena Williams ‘bulls***’ by fellow ace

    For a prime example of this muddying of the Gatorade, look no further than Serena Williams . Incessant internet and social media has made us more politically engaged, more woke .

    Rashford ahead of Kane and Cristiano, says Southgate

    Rashford has managed just one start and a total of 122 minutes in the Premier League this season, a situation that will not improve in the short term due to a three-game ban for headbutting Burnley's Phil Bardsley.
  • The biggest announcements from Apple's iPhone Xs event

    The iPhone XS Max (iPhone 11,6) does even better in Geekbench tests, and it's probably thanks to that extra gigabyte of RAM. Colorful identity: If you want your iPhone XS to be any color than gold, silver or black-grey, you'll have to buy a case.
    Weah, 51-Year-Old Liberia President, Plays 79 Minutes Against Super Eagles

    Weah, 51-Year-Old Liberia President, Plays 79 Minutes Against Super Eagles

    After the game, Liberia retired jersey number 14, which was worn by Weah during his footballing peak. However, Football lover have taken to social media to say one or two things.
    FDA Gets Tough on Juul, Other E-Cigarette Makers

    FDA Gets Tough on Juul, Other E-Cigarette Makers

    But it added that "appropriate flavors play an important role in helping adult smokers switch", spokeswoman Victoria Davis said. Studies show that teens who vape are also more likely to go on to smoke traditional burned cigarettes.
  • Real Madrid enter the race for De Jong

    Real Madrid enter the race for De Jong

    Reports also claim that Tottenham made a bigger offer for De Jong, though those overtures were also rejected. Therefore, Barcelona could sign him in January and use him in the Champions League.

    Apple iPhone Xs vs iPhone X: Here's what is different

    Apple on Wednesday announced that they had stopped selling the iPhone 6 series and Android users won't let iPhone lovers be. The price for the iPhone XS starts at $999 for the 64 GB model and goes up from there for 256 GB and 512 GB.

    Apple ditches free headphone adapter with new iPhones

    For folks who follow Apple's naming conventions: It's an "S" upgrade, Apple's every-other-year cycle for big new launches. As you can see, however, this deal is only good for a limited time, and only applies to iPhone XS models.
  • Stewart, Storm surge past Mystics for WNBA title

    Stewart, Storm surge past Mystics for WNBA title

    Hoisting the WNBA Finals trophy and being named Finals MVP capped off a brilliant season for the third-year pro. She had 10 assists and 10 points in Seattle's championship-clinching win against Washington on Wednesday.
    The New $1,449 iPhone Won't Include A Free Headphone Dongle

    The New $1,449 iPhone Won't Include A Free Headphone Dongle

    It is worth noting that Apple has reportedly discontinued select handsets including iPhone X , iPhone 6S and iPhone SE in the US. The A12 Bionic is faster and more efficient than before and packs Apple's own GPU as well as an improved neural engine.
    Hurricane Florence's winds start to rake North Carolina coast

    Hurricane Florence's winds start to rake North Carolina coast

    Boarding up his home in Myrtle Beach, South Carolina , Chris Pennington watched the forecasts and tried to decide when to leave. North Carolina alone could get from 20 to 30 inches, with isolated spots possibly receiving 40 inches.