Jeff Bezos Pledges $2 Billion Toward Education and Homelessness

Jeff Bezos Pledges $2 Billion Toward Education and Homelessness

The wealth that Bezos has amassed hasn't come without controversy, as many critics point to poor working conditions at his facilities while others say he doesn't do enough for the public good.

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.

On Twitter Thursday, Bezos said he would create a "Families Fund" that would "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". "We will announce a decision before the end of this year", Bezos said.

Senator Bernie Sanders, who has been one of Amazon's most vocal critics, last week introduced the Stop BEZOS Act, aimed at placing a tax on big companies like Amazon and Walmart so they compensate the government for the benefits it has to pay their low-income employees. Until now, the Bezos Family Foundation, best known for supporting children's education, has been largely funded by his parents from Amazon holdings they acquired as early investors in their son's enterprise.

Helping the homeless has also been a focus for Amazon.

Bezos solicited ideas on Twitter previous year for ways to donate some of his wealth. He wrote that he wanted to help "people in the here and now - short term - at the intersection of urgent need and lasting impact". It is a contrast to the long view that Bezos has preached at Amazon and Blue Origin, the space-travel technology company he has been funding with $1 billion a year through the sale of Amazon stock. But it's really risky to demonize the media.

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The Social Democrats won 28.4% of votes, down 2.8 points from the 2014 elections, their worst score in a century. For those predicting a decisive right-wing triumph , the ultimate result didn't quite live up to the hype.

"If you're the president of the United States, you don't take that job thinking you're not going to be scrutinized", Bezos said, adding that he'd had "a couple of conversations" with Donald Trump, though he declined to elaborate.

He has a home in the capital, owns the Washington Post and Amazon has significantly increased its lobbying presence there.

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

The so-called Day One Fund will be multi-billionaire businessman's most significant foray into philanthropy to date.

"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".

Bezos, now the world's richest person, asked Twitter followers a year ago for ideas about how he should shape his "philanthropy strategy".

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