Amazon CEO Jeff Bezos launches a US$2 billion philanthropic fund

Amazon CEO Jeff Bezos launches a US$2 billion philanthropic fund

Jeff Bezos of Amazon speaks at the Bush Centers Forum on Leadership in Dallas
Jeff Bezos, Chairman and CEO of Amazon, speaks at the George W. Bush Presidential Center's Forum on Leadership in Dallas, Texas, U.S., April 20, 2018. Picture taken on April 20, 2018. REUTERS/Rex Curry

REUTERS: Amazon.com Inc Chief Executive Officer Jeff Bezos on Thursday launched Bezos Day One Fund, a new philanthropic initiative, with an initial commitment of US$2 billion to help homeless families and create preschools for low-income communities.

The fund will be split between Day 1 Families Fund and Day 1 Academies Fund.

"The Day 1 Families Fund will 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," Bezos said in a tweet 

The Day 1 Academies Fund will launch and operate a network of high-quality, full-scholarship, Montessori-inspired preschools in underserved communities.

Bezos, with an estimated fortune of more than US$160 billion, is currently the world's wealthiest man, according to Forbes.

Source: Reuters

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