Amazon.com Inc chief executive officer Jeff Bezos on Thursday launched Bezos Day One Fund, a new philanthropic initiative, with an initial commitment of $2 billion to help homeless families and create preschools for low-income communities.
The Day 1 Families Fund will start an organisation to operate a new network of full-scholarship preschools for low-income communities.
Bezos reminisced about the early days of Amazon, and said he still likes to treat things as if they're small.
Discussing the preschools he would be funding, Bezos said he would focus on children the way Amazon does its customers.
Outside that, Bezos and his family's known donations have included gifts to Princeton University and Seattle's Fred Hutchinson Cancer Research Centre, according to the Chronicle of Philanthropy. This is good. I am glad I am getting scrutinized.' But it's really unsafe to demonize the media.
Another brought up the fact that Amazon strong-armed the Seattle city council to abandon the plan to tax the company in order to raise funds for tackling the mounting homelessness crisis. But in the world of ultra-rich tech philanthropists, it's roughly on par with other do-gooding efforts.
Who would have thought that with all the wealth in the world, the richest man on Planet earth would wore his pair of pajamas in a board meeting.
Zuckerberg, 34, and his wife Priscilla Chan said in 2015 that they planned to give away 99 per cent of their Facebook stock.
While the online retail giant's presence made Seattle the fastest-growing big city in the U.S., it also has taken a toll on its residents, driving up rent prices, clogging traffic and overwhelming public transportation.
"We will build an organisation to directly operate these schools".
The remarks came during an hour-long, freewheeling conversation with hedge fund billionaire and philanthropist David Rubinstein at an annual gathering of the Economic Club of Washington, which Rubinstein chairs. Last night, Bezos once again affirmed that he has not "feel the need to defend Amazon" from the president's criticism.
Bezos thanked people for sending in suggestions about what he should spend money on. Amazon is designating 47,000 square feet of space at its new corporate office for a permanent Mary's Place shelter.