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

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Another brought up the fact that Amazon strong-armed the Seattle city council to abandon the plan to tax the company in order to raise funds for tackling the mounting homelessness crisis.

The Bezos Day One Fund will be made up of the Families Fund and the Academics Fund. The other part will launch and operate free preschools in low-income communities, where "the child will be the customer". The most notable involving more than $40 million United States to the local nonprofit FareStart - a hospitality training program and restaurant business that aims to combat homelessness and poverty - and Mary's Place, whose mission to find and provide shelter for every child. "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, whose Amazon fortune has made him the world's richest person, added that he has had "a couple of conversations" with Mr Trump, but declined to say what was discussed. Jeff Bezos's net worth is about $150 billion, so this campaign represents a little over 1% of that. "It was a Day 1 outlook that made me reach out to ask for suggestions on approaches to philanthropy past year".

The missive set off a frenzy of responses, including pleas to support health care, loan forgiveness and even offbeat appeals to back a leather fetish museum in Chicago.

"People are interested in trying to help the world in so many different ways", he said.

"There are certain things that only big companies can do", Bezos said.

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But the attacks on the press - while unsafe - aren't stronger than USA institutions, Bezos said.

Gates did not fully throw himself into philanthropy until he stepped down as CEO of Microsoft in 2000.

"We will build an organization to directly operate these schools".

"I don't know how much I'm going to give away", he told economic club president David Rubenstein. This year, Gates also announced it was taking up systemic poverty in the U.S.

American billionaire philanthropy is spreading elsewhere. Alibaba owns the South China Morning Post. While his and Amazon investors' wealth increases-and the company's market capitalization approaches $1 trillion-what makes the business so efficient is that relies on automation and low-priced labor.

In 2016, Amazon renovated a vacant hotel on land designated for its new headquarters so it could be used temporarily by the non-profit Mary's Place to shelter 200 homeless families.