Published: Fri, September 14, 2018
Money | By Armando Alvarado

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

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

Earlier this month, US Democratic senator Bernie Sanders proposed a bill in Congress called the "Stop BEZOS" Act, which would make large corporations pay workers more or pay for public assistance programs such as Medicaid. The first one, "The Day 1 Families Fund" will provide grants to organizations and groups that help accommodate homeless families, while "The Day 1 Academies Fund" will run a network of Montessori-based nurseries in impoverished communities.

The Day 1 Families Fund will start an organisation to operate a new network of full-scholarship preschools for low-income communities.

Bezos, the world's richest man and gros fromage of the sprawling Amazon online services empire, had a pop at The Donald after one of the latter's wearyingly frequent outbursts at the American journos for writing down what he says and publishing it. "The secret sauce of Amazon - the number one thing that has made us successful has by far is obsessive, compulsive focus on the customer".

Jeff Bezos, president and CEO of Amazon and owner of The Washington Post, speaks at the Economic Club of Washington DC's "Milestone Celebration Dinner" in Washington on September 13, 2018.

In a tweet last June, Bezos asked the public for ideas about where he should give his money.

"I'm thinking I want much of my philanthropic activity to be helping people in the here and now-short term-at the intersection of urgent need and lasting impact", he wrote at the time.

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But Bezos did receive kudos today for taking an important step into philanthropy.

Jeff Bezos, Amazon chief and the world's richest person, attended a board meeting in pyjamas on Wednesday and shared the new look on Instagram.

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

"We're hoping that local, state and federal governments see this as a call to invest more in preschool and childcare", he said.

Zuckerberg, 34, and his wife Priscilla Chan said in 2015 that they planned to give away 99 per cent of their Facebook stock. "It's also the social norms that protect us".

While Bezos was thinking about where best to put his own money, Amazon stepped up its corporate giving, focused on growing inequality in its hometown of Seattle. Amazon is designating 47,000 square feet of space at its new corporate office for a permanent Mary's Place shelter.

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