Wednesday, 14 November, 2018

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

Jeff Bezos of Amazon speaks at the Bush Centers Forum on Leadership in Dallas Here’s why the world’s richest man Jeff Bezos wore pajamas to a board meeting
Glenn Montgomery | 14 September, 2018, 12:13

Jeff Bezos may be minting billions, but he fantasises about being a bartender and making craft cocktails.A look at some fantasies - achieved or otherwise - of other big guns in the business world.

Jeff Bezos, the world's richest person, is launching a $2 billion fund to help homeless families and create a network of non-profit preschools in low-income communities.

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

To raise awareness about childhood cancer, which is the second leading cause of death in the U.S. between kids aged 4 and 14, Amazon's Jeff Bezos wore pajamas to a meeting on Wednesday.

Bezos is worth $164 billion, according to the Bloomberg Billionaires Index, a sum mostly derived from the about 16 percent stake in Amazon that he owns. Amazon warehouse employees are known to have terrible working conditions, pitiful wages, and have even been forced into homelessness after workplace injuries. "The secret sauce of Amazon - the number one thing that has made us successful has by far is obsessive, compulsive focus on the customer".

The interview shed new details on Bezos's philanthropic push, which was devised with his wife MacKenzie and will include building and operating a network of "Montessori-like" preschools to help prevent low-income family children from falling behind in their education.

Bezos solicited ideas on Twitter a year ago for ways to donate some of his wealth. At the time, he said he was interested in projects that address urgent need but also produce lasting impact.

He has given $1.5 billion to Blue Origin, his company developing technology for space travel.

"It's risky to demonize the media", Bezos said.

Bezos said Trump and other public figures should expect public and media scrutiny, which he called "healthy".

"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.

"We will have to leave this planet, and we're going to leave it", Bezos previously told GeekWire, "and it's going to make this planet better".

The Bezos Day One Fund will focus on two initiatives, the billionaire announced in an online post Thursday.

"Never have I been more comfortable at an Amazon board meeting!", Bezos' post read.

The private non-profit foundation in its 2016 tax filing reported almost $46 million United States in assets, and giving away $30 million USA in grants support its missions in early education, K-12 schools reform and youth leadership development and scholarships.

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