Amazon Founder Starts $2 Billion Charity Fund

17 September, 2018, 16:25 | Author: Frank Williams
  • Jeff Bezos founder and CEO of Amazon told an Economic Club of Washington dinner he will add to his $2 billion philanthropic initiativeMore

Jeff Bezos, the founder of Amazon and owner of the Washington Post newspaper, warned Thursday that President Donald Trump's attacks on media are risky for the country.

"You only have to help them for six to nine months", Bezos said. He has also baselessly accused Bezos of using his ownership of the Post as a vehicle for lobbying on behalf of Amazon, which he alleges does not pay enough taxes. "It is unsafe to call the media lowlifes, it is risky to say that they are the enemy of the people". Those who sign the nonbinding pledge promise to give at least half of their net worth to philanthropy, either during their lifetimes or upon their death. Where are the opportunities to make things better?

Jeff Bezos has always been an entrepreneur and a maverick, Pasic said.

The Amazon founder, whose fortune has risen by $64.7bn (£49.3bn) in the previous year alone, "has long faced scrutiny for his lack of a major philanthropic initiative", says The Guardian.

In June, Bezos posted another tweet announcing that he had identified two areas of focus, and that he would reveal them by the end of the summer. Bernie Sanders for paying its facility workers substandard wages - a claim Amazon has pushed back against.

On Twitter Thursday, Bezos said he would create a "Families Fund" that would "issue annual leadership awards to organizations and civic groups doing compassionate, needle-moving work to provide shelter and hunger support to address the immediate needs of young families". In January, Bezos had his largest known charitable donation to date, a $33 million donation to TheDream.us, a non-profit organization that gives scholarships to Dreamers, who are young, undocumented immigrants who were brought to and raised in the USA from a young age.

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Bezos said his fund will launch "Montessori-inspired" nurseries - referring to the popular child-centered educational approach - in low income areas.

Amazon CEO Jeff Bezos, who typically tries to stay out of the political fray, mounted a vigorous defense of press freedom on Thursday evening, saying President Donald Trump should be glad to face media scrutiny. He said he was supporting "American democracy through stewardship of the Washington Post" and pointed to the contributions he has given to cancer research, marriage equality and college scholarships for immigrant students.

He said he did not know how much money he would eventually give away. You're going to get scrutinized.

"The customer is going to be the child", Bezos said. We're going to be obsessively, compulsively focused on the child. "Bezos' response reflects the reality that people feel, which is that there are a lot of real problems not being addressed".

Mathias Döpfner, the CEO of Business Insider's parent company, Axel Springer, sat down with Bezos in April for an interview that revealed more details about the billionaire's thought process for philanthropy.

The money is being used to finance university scholarships for 1,000 high school graduates who were granted the chance to stay in the USA under the Deferred Action for Childhood Arrivals programme.

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