Amazon's CEO Starts $2 Billion Fund for Schools, Homeless

Sources News reports and announcements

He also repeated a previous mantra that Amazon's secret sauce is "obsessive compulsive" focus on the consumer, rather than its competitors.

"That's what a rigged economy is about", Sanders said, as he introduced the bill.

Jeff Bezos said the new Day One Fund was inspired by his "Day 1 mentality".

The second will launch a network of "high-quality, full-scholarship" preschools in low-income communities, which a Day One Fund organization will directly operate. Earlier this year, the company partnered with the Seattle nonprofit Mary's Place to build a permanent homeless shelter in its headquarters. "We will announce a decision before the end of this year", Bezos said. "But it turns out in life that your most important decisions are always made with instinct, intuition, taste, heart". "In the caption, he wrote, "September is Childhood Cancer Awareness month", he further wrote that Amazon employees around the globe will be wearing pjs to work to show their solidarity and support to children suffering from the deadly disease".

Mr Bezos asked on Twitter last year for suggestions on how he might use his personal fortune, which this year has soared due to Amazon's surging share price and United States tax cuts. His net worth has risen by $64.7 billion this year alone as Amazon's shares have surged.

"The answer is very simple", Bezos told David Rubenstein, the president of the Economic Club, when asked about the topic. He wrote that he wanted to help "people in the here and now - short term - at the intersection of urgent need and lasting impact".

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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.

"All big institutions of any kind will be and should be scrutinized", Bezos said. "With big fortunes like that, the only thing you can really do is give it away - unless you want the government to take half of it through estate tax".

Amazon now has about 500,000 employees, but Bezos said he keenly remembers when Amazon was still small and had 10 employees.

"He's a pretty wonderful neighbour, him and [his wife] MacKenzie", said Mary's Place director Marty Hartman.

So, Jeff, from one member of the human species to another, I implore you to not only engage in philanthropy but also try to understand how you can fix Amazon's problems to set a better example.

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