Why has Amazon’s Bezos given $2bn to homeless?

Why has Amazon’s Bezos given $2bn to homeless?

Bezos says he will fund existing organisations that aid homeless people and has pledged to build not-for-profit schools to serve low-income communities. "But it is really risky to demonize the media".

Amazon founder Jeff Bezos said on Thursday that he will commit US$2 billion to helping homeless families and starting pre-schools for low-income communities, Reuters reports.

"We know for a fact that if a kid falls behind it's really, really hard to catch up", Bezos said Thursday evening at an event hosted by the Economic Club of Washington.

Bezos said early childhood education is a critical area and that "the money spent there is going to pay very big dividends for decades". Those who sign the nonbinding pledge promise to give at least half of their net worth to philanthropy, either during their lifetimes or upon their death.

Jeff Bezos has always been an entrepreneur and a maverick, Pasic said. Where are the opportunities to make things better?

Bezos's personal wealth has soared with the value of Amazon, whose stock price has doubled over the past year with its expansion into new sectors and geographies.

In June, Bezos posted another tweet announcing that he had identified two areas of focus, and that he would reveal them by the end of the summer.

Some analysts have suggested Amazon could face antitrust scrutiny over its growing power in the economy, and President Donald Trump has accused the company of taking advantage of the Postal Service, despite studies suggesting the internet giant's deal has been beneficial to the USA government postal operator.

Since his tweet last June, Bezos made one donation that garnered plenty of headlines, giving $33 million in January for college scholarships to so-called "Dreamers", undocumented immigrants who came to the United States as children.


"Thousands of Amazon workers have to rely on food stamps, Medicaid and public housing to survive", Sanders tweeted earlier this month.

The Day 1 Academics Fund plans to launch and operate a network of high-quality, free Montessori-inspired preschools in underserved communities.

Organisations will be given grants for doing compassionate, needle-moving work to provide shelter and hunger support to address the needs of young families.

Mr. Trump has also taken to attacking Amazon, claiming it uses the Post Office as a "delivery boy". In 2010, Buffett and Gates created the Giving Pledge, which calls on billionaires to pledge the majority of their wealth to charity.

"I do defend the Post", Bezos said. You're going to get scrutinized.

Most important among those will be genuine, intense customer obsession. "The child will be the customer". "We're going to push through this". "Bezos' response reflects the reality that people feel, which is that there are a lot of real problems not being addressed".

Later, Bezos told a Washington gathering that the $2 billion was only the start and that he would likely expand his philanthropic efforts.

The money is being used to finance university scholarships for 1,000 high school graduates who were granted the chance to stay in the U.S. under the Deferred Action for Childhood Arrivals programme.

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