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Amazon CEO Jeff Bezos launches a $2 billion philanthropic fund

14 September, 2018, 21:49 | Author: Lawrence Cooper
  • Bezos Amazon board visiting Washington but no headquarters announcement planned

Avo Makdessian, a vice president at the Silicon Valley Community Foundation, a non-profit that manages donations for philanthropists including many tech billionaires, said he hoped Bezos' pledge would help inspire other wealthy Americans - as well as the government - to take similar action.

Within this, the "Day 1 Families Fund" will support existing non-profit organizations that offer shelter and food to young homeless families. There will also be full scholarships for Montessori-inspired preschools in "underserved" communities, he said. "But it turns out in life that your most important decisions are always made with instinct, intuition, taste, heart".

"Thank you so much for supporting kids like mine by advocating for childhood cancer funding!" wrote one person in the comments section. "This is good. I am glad I am getting scrutinized, '" he said.

Sen. Elizabeth Warren (D-Mass.) has floated the idea of Congress passing a 21-century version of the 1933 Glass-Steagall Act to regulate large technology companies such as Amazon.

This is not the first time Bezos has publicly defended his newspaper from Donald Trump.

The world has been waiting for a major philanthropy announcement from Jeff Bezos for over a year. Bezos calls the endeavor a blend of business and charitable work and hopes that one day we can move industrial activities off Earth, preserving it as a place to live and do less harmful activities.

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Gates did not fully throw himself into philanthropy until he stepped down as CEO of Microsoft in 2000.

Zuckerberg, 34, and his wife Priscilla Chan said in 2015 that they planned to give away 99 per cent of their Facebook stock. It's also social norms that protect us.

"We will build an organization 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. Bezos was previously criticized for giving relatively little to charity. Alibaba owns the South China Morning Post.

Bezos, who acquired the Washington Post for $250 million in 2013, vowed to defend the paper's coverage from President Trump's criticisms, suggesting its reporting on the administration is fair and balanced. Some activists and politicians have partly blamed the city's problems on Amazon.

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