Bezos rips Trump for ‘dangerous’ attacks on the media

Sources News reports and announcements

Sources News reports and announcements

When Seattle passed a tax in May on large companies to fight the city's growing homelessness crisis, Amazon balked and even temporarily halted construction planning on a new high-rise building near its headquarters. Amazon has said Sanders' statements about the company were "inaccurate and misleading". It seems that Bezos is attempting to quell that chatter as he announced the launch of the Day One Fund in order to start preschools and assist homeless families.

Amazon founder Jeff Bezos is to launch a $2bn (£1.53bn) fund to help homeless families and launch pre-schools in poor communities.

The other component, called the "Day 1 Academies Fund," will create "and operate a network of high-quality, full-scholarship, Montessori-inspired preschools in underserved communities", Bezos said. 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. Most important among those will be genuine, intense customer obsession.

Bezos owns the Washington Post, which, along with Amazon have been targets of Trump criticisms.

Bezos, with an estimated fortune of more than $160 billion, is now the world's wealthiest man, according to Forbes. The couple pledged that they would contribute $1 billion a year to the cause for three years, and that Zuckerberg would endow the effort with 99 percent of his Facebook shares, which were worth $45 billion at the time. Public donations by the 54-year-old Bezos have been rare, and - with exceptions like a $35 million family donation to the Fred Hutchinson Cancer Research Center - typically on a scale far smaller than the two men just behind him in the wealth rankings, Microsoft co-founder Bill Gates and Berkshire Hathaway's Warren Buffett.

In a tweet last June, Bezos asked the public for ideas about where he should give his money.

The Bezos Family Foundation, best known for supporting children's education, has been largely funded by his parents from Amazon holdings they acquired as early investors in their son's enterprise.

Insanely rich human being Jeff Bezos announced today his intention to do something he rarely ever does: philanthropy.

"People are interested in trying to help the world in so many different ways", he said. "With big fortunes like that, the only thing you can really do is give it away - unless you want the government to take half of it through estate tax". The Washington Post's top editor has said that Bezos has no involvement in its news coverage.

Latest News