the Bezos Day One Fund

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Jeff Bezos is dropping fats stacks. Effectively, type of.

Picture: Todd Williamson/Getty Photos for Amazon

The richest particular person ever has determined to unfold the love.

On Jeff Bezos’ Twitter on Thursday, the Amazon billionaire shared an announcement saying the creation of his new charitable group: the Bezos Day One Fund.

As Bezos’ wealth ballooned, many have puzzled what he was planning on doing with all that money. Even if philanthropy is one technique to justify the in any other case legal earnings disparity that Jeff Bezos’ fervent religion in capitalism permits, it appeared, oh, uncouth, that Bezos hadn’t stepped up in the identical approach as a few of his fellow billionaires. 

Now, we have now motion. Bezos will initially make investments $2 billion of his $150 billion U.S. into present homelessness charities and within the growth of early childhood schooling facilities through the Fund.

As he mentions within the notice, Bezos is not any stranger to charitable giving. He has already spent thousands and thousands on schooling, artwork, medical analysis, and notably, on the creation of a $33 million scholarship for Dreamers. 

Nonetheless, his work in Seattle round homelessness has been controversial. He has conspicuously not signed on to the billionaire’s Giving Pledge. And one of many best methods Bezos may have an effect could be to pay his warehouse staff honest wages, and, heck, even allow them to unionize.

Nonetheless, the Bezos Day One Fund appears promising. Bezos is giving his cash on to group leaders — the cash-strapped consultants on the bottom who want it most, and who can probably have essentially the most impression. And entry to high quality early childhood schooling is a confirmed technique to allow the success of youngsters sooner or later. So Bezos is placing his cash to good, and much-needed use.

Final June, Bezos put out a name for the way he may assist the world with a think-big philanthropic method. The Bezos Day One Fund seems to be his reply. Whether or not he’ll pony up the “majority” of his wealth towards “giving again” like different billionaires in his league stays to be seen.

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