Published: Fri, September 14, 2018
Sci-tech | By Jackie Newman

Amazon's Jeff Bezos to start US$2 billion charitable fund

Amazon's Jeff Bezos to start US$2 billion charitable fund

Bezos had previously been critiqued for not making his philanthropic mark like other billionaires, including Warren Buffett and Bill Gates.

Bezos's wealth has allowed him to pay for side ventures, including starting space exploration company Blue Origin and buying the Washington Post newspaper. 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.

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

A spokeswoman for Amazon did not offer further details on the new project.

Apple Watch Series 4 hands-on
It will be available in three aluminium finishes, and there is a brand-new Gold stainless finish apart from Silver and Space Grey. For the most part, the company has focused far more on general, wellness-type data collection - like how much a person moves.

Bezos is worth $164 billion, according to the Bloomberg Billionaires Index, a sum mostly derived from the about 16 percent stake in Amazon that he owns. City leaders quickly rescinded the levy.

Geek Wire reports that as part of Childhood Cancer Awareness month, Amazon has also rolled out a specially branded Prime Air jet and made charitable donations to two institutions working toward better awareness of childhood cancer. The vision statement comes from the inspiring Mary's Place in Seattle: no child sleeps outside.

"He's a pretty awesome neighbour, him and [his wife] MacKenzie", said Mary's Place director Marty Hartman. The Amazon boss and his wife, who have four children, both serve on the foundation's board directors. We will build an organization to directly operate these preschools. The Seattle-based Bill and Melinda Gates Foundation as the world's largest private nonprofit foundation has an endowment worth over $40 billion U.S. and has long supported homelessness services for families in the city.

The announcement, made through a statement from Bezos, comes after the executive reached out a year ago to ask for suggestions on approaches to philanthropy. September is Childhood Cancer Awareness month and each year Amazon partners with @ACCOrg to raise awareness of childhood cancer - second leading cause of death for kids in the US between ages 4 and 14.

Like this: