Amazon’s Jeff Bezos launches US$2 billion fund to help the homeless

Amazon’s Jeff Bezos launches US$2 billion fund to help the homeless

Amazon’s Jeff Bezos launches US$2 billion fund to help the homeless

Amazon CEO Jeff Bezos announced the launch of a new $2 billion charitable fund Thursday, focused on fighting homelessness and providing quality education.

The announcement marks a deeper foray into philanthropy for Mr Bezos, whose fortune has soared to more than $160 billion thanks to his stake in Amazon, making him the world's richest person, according to Forbes.

One part of the effort, dubbed the "Day 1 Families Fund," will give money to non-profit organizations that are "doing compassionate, needle-moving work to provide shelter and hunger support to address the immediate needs of young families", Bezos's message stated.

The "Day 1 Academies Fund" will start an organization to operate a new network of full-scholarship pre-schools for low-income communities.

Some resorted to the same argument as US President Donald Trump, who has attacked Amazon for not paying enough taxes and using US postal office as its "delivery boy". Citing the Amazon mantra of customer obsession, Bezos said in a tweet here: "The child will be the customer".

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Amazon founder Jeff Bezos plans to open and fund nursery schools in low income areas, promising that poor children would be treated like Amazon customers. He has not signed on to the Giving Pledge, and the Bezos Family Foundation is reportedly run by his parents; Bezos does not play an active role.

The staggering fortunes of the likes of Bezos, Gates and Facebook CEO Mark Zuckerberg have created a second Gilded Age in the United States and "a new generation of megagivers", Callahan said.

Amazon, meanwhile, has been criticized for years for largely taking a pass on the formal donation programs of corporate peers.

Earlier this year, under pressure from Amazon and other large employers, Seattle's City Council repealed an employee head tax created to provide housing and services for the homeless.

Many Twitter users agreed with that reasoning. "If billionaires like Bezos were properly taxed then we wouldn't need billionaires like Bezos to sweep in and "rescue" people failed by our underfunded systems," one wrote. Amazon is designating 47,000 square feet of space at its new corporate office for a permanent Mary's Place shelter.

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