Amazon founder Jeff Bezos announced Tuesday that he will donate $123 million to help fight homelessness in America.
The donation will take the form of 40 grants, which are part of Bezos’ commitment to the Bezos Day 1 Family Fund. Bezos plans to donate $2 billion through the fund to organizations that help the homeless and provide systems for stability in low-income communities. The Day 1 Fund was founded in 2018 and has donated more than $500 million in grants since its inception.
But Bezos has even broader intentions with his assets than the fund. In an interview with CNNtold the billionaire that he plans to give away much of his $124 billion net worth in his lifetime, focusing on climate change and people facing social and political divides.
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The interview also touched on how Bezos used to be criticized for not signing the Giving Pledge, an agreement signed by the world’s richest people to donate more than half of their fortune to charity. However, Bezos told CNN that it’s not so much a question of whether he’s giving his money away, but rather how.
“The hardest part is figuring out how to do it in a leveraged way,” he told the outlet. “It’s not easy. Building Amazon wasn’t easy. It took a lot of hard work, a bunch of very smart teammates, hard-working teammates, and I think – and I think Lauren feels the same way – that charity, philanthropy, is very similar.”
Bezos’ most recent Day 1 Fund grants are the largest amount donated to date, averaging approximately $99 million in donations over the past four years.
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