Amazon’s Jeff Bezos launches US$2 billion fund to help the homeless

Ivan Schwartz
September 14, 2018

Bezos and his wife, MacKenzie, pledged $US2 billion on Thursday for a new fund to start preschools and help homeless families. Previous to the creation of the Day One Fund, Bezos and his family had donated only $135 million to charities, including the Fred Hutchinson Cancer Research Center, a nonprofit providing scholarships for the children of parents who immigrated the US illegally and most recently to a bi-partisan organization that gives campaign support to veterans running for political office.

Organisations will be given grants for "doing compassionate, needle-moving work to provide shelter and hunger support to address the needs of young families".

The fund will also seek to launch and operate "a network of high-quality, full-scholarship, Montessori-inspired preschools in underserved communities", he wrote.

The announcement marks a deeper foray into philanthropy for Bezos, whose fortune has soared to more than $160 billion thanks to his stake in Amazon.

These terms of endearment are all things Trump has said about the news media, most of which came out via his Twitter account.

Jeff Bezos, president and CEO of Amazon and owner of The Washington Post, speaks at the Economic Club of Washington DC's "Milestone Celebration Dinner" in Washington on September 13, 2018.

Among the world's top tech CEOs, Bezos is not known for his philanthropy.

Multiple Final Fantasy Titles Announced for Nintendo Switch, PS4, Xbox One
This version will allow you to "befriend all the monsters", as well as play co-op with a buddy. In the meantime, it's also unclear why Final Fantasy 8 wasn't included in the lineup.

Florence weakens but could linger for longer
At least 12,000 people had taken refuge in 126 emergency shelters, Governor Cooper said, with more facilities being opened. The Miami-based center says Florence is bringing "catastrophic" fresh water flooding over a wide area of the Carolinas .

Apple debuts 6.1-inch LCD iPhone XR, coming in October
The iPhone XS / XS Max pack a dual-camera setup as expected, but there are some major improvements here over the iPhone X. The last one is a dig at Apple's new colours this year suggesting that aside from the colours everything is the same.

"We'll use the same set of principals that have driven Amazon", wrote Bezos of the preschool management.

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

He also operates the private space exploration firm Blue Origin and owns The Washington Post.

Bezos said he and Marty Baron, the Post's editor, remind journalists that despite the commander-in-chief's attacks on the media, the paper isn't at war with the Trump administration. In January, Bezos also personally gave $33 million United States in college scholarships for young immigrants living in the USA illegally. "If you can give somebody a leg up when they're 2, 3 or 4 years old, by the time they get to kindergarten of first grade, they're much less likely to fall behind".

Last year, Bezos solicited advice from the public via Twitter, asking how he could best use his wealth to help people "right now".

Bezos said his decision to select Seattle for Amazon's original home base was due to Microsoft being there and he had plenty of technical talent to pull from in city. Some activists and politicians have partly blamed the city's problems on Amazon.

Other reports by GizPress

Discuss This Article

FOLLOW OUR NEWSPAPER