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Jeff Bezos announces $2bn fund to help the homeless

14 Sep 2018 | By Shiladitya Ray
Amazon founder announces charitable fund for the homeless

Amazon founder Jeff Bezos has announced a $2bn charitable fund, called the Day One Fund, to help homeless families, and set up a network of preschools for low income communities.

Bezos, currently the world's wealthiest man with an enormous $164bn net worth, had been criticized earlier for not using his wealth for philanthropic purposes.

Here are the details.

In context: Amazon founder announces charitable fund for the homeless

14 Sep 2018Jeff Bezos announces $2bn fund to help the homeless

Jeff Bezos announces the fund on Twitter, explaining its purpose

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The fund was launched with two objectives

The fundThe fund was launched with two objectives

Last year, Bezos took to Twitter to ask netizens as to how to use his vast personal fortune to help others.

Their suggestions seem to have manifested in the Bezos Day One Fund, which the Amazon chief said would contribute to "existing nonprofits that help homeless families", and would also fund "a network of new, nonprofit, tier-one preschools in low-income communities."

Too little?Could Bezos have spared more from his $164bn fortune? Certainly

Thus, the fund will be split between the Day 1 Families Fund and the Day 1 Academies Fund.

Yet, Bezos' $2bn contribution, while massive in absolute terms, is still considerably tiny considering the Amazon chief's immense personal wealth.

It's also a small amount, given that Amazon recently became the second publicly traded company to reach a market valuation of $1 trillion.

ComparisonBezos' contribution pales in comparison to other billionaires' contributions

Notably, Bezos' contribution also pales in comparison to philanthropic contributions by other big billionaires like Microsoft's Bill Gates, who has donated tens of billions of dollars to his charity, the Bill and Melinda Gates Foundation.

It's also considerably short of the "giving pledge" initiative, started by Bill Gates and world-renowned investor Warren Buffett, that urges the wealthy to pledge half their fortunes to philanthropy.

How much money Jef Bezos had announced for the charitable fund?

Asked on 14-09-2018 by Anonymous
Answered by NewsBytes
Amazon founder Jeff Bezos has announced a $2bn charitable fund, called the Day One Fund, to help homeless families, and set up a network of preschools for low-income communities.
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Who is the founder of Amazon?

Asked on 14-09-2018 by Anonymous
Answered by NewsBytes
The founder of Amazon is Jeff Bezos. He is currently the world's wealthiest man with an enormous $164bn net worth.
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