Wednesday, 26 September, 2018

Amazon CEO Jeff Bezos launches $2B fund for homeless, low-income families

Amazon chief Jeff Bezos gives $2bn to help the homeless Here’s why the world’s richest man Jeff Bezos wore pajamas to a board meeting
Theresa Hayes | 14 September, 2018, 06:43

Amazon CEO Jeff Bezos seems to be Seattle City Councilmember Kshama Sawant's arch-nemesis, so it only makes sense that she would have something to say about the entrepreneur's $2 billion charitable fund toward homelessness and education.

Within this, the Day 1 Families Fund will support existing non-profits that offer shelter and food to young homeless families.

The Day 1 Academies Fund will launch and operate a network of high-quality, full-scholarship, Montessori-inspired preschools in underserved communities. We'll use the same set of principles that have driven Amazon. Citing the Amazon mantra of customer obsession, Bezos said in a tweet here: "The child will be the customer".

Mr Bezos, who operates the Blue Origin space rocket project and who owns the Washington Post newspaper, has given donations to a scheme to help the children of immigrants, cancer research, and Princeton University.

Bezos solicited ideas on Twitter past year for ways to donate some of his wealth.

"I'm thinking I want much of my philanthropic activity to be helping people in the here and now-short term-at the intersection of urgent need and lasting impact", he wrote at the time. Amazon has said Sanders' statements about the company were "inaccurate and misleading".

The fight soured many more locals on Amazon and Bezos, and also overshadowed the growing portfolio of philanthropy they had done in the city.

Some 184 of the world's wealthiest individuals and families, including Tesla's Elon Musk and the co-founders of Airbnb have joined The Giving Pledge, a commitment started by Gates and Buffett to give away at least half their wealth.

American billionaire philanthropy is spreading elsewhere.

The Amazon chief's wealth has become problematic for some.

"The Bezos Family Foundation - and Jeff obviously has a role in that - has been engaged with early learning initiatives for years now", Burgess said, adding that it could only help the political momentum toward universal pre-K, as Seattle's preschool program is also once again on the ballot in November. Earlier this year, the company partnered with the Seattle nonprofit Mary's Place to build a permanent homeless shelter in its headquarters.