Amazon’s new charity is a prime example of the power mega-wealthy companies have to drive change. Jeff Bezos has created a $2 billion fund to help aid homeless families and create nonprofit preschool locations in underprivileged communities. Bezos is one of the richest men alive, with a cool net worth of 163.8 billion dollars – and he’s putting his money to good use.
The founder of Amazon turned to Twitter for a worldwide brainstorm as to where to spend his fortune. Bloomberg reports, “At the time, he said he was interested in projects that address urgent need but also produce lasting impact. 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.” This fund is Bezos’ first real plunge into intense philanthropy.
He is among the list of billionaires – like Elon Musk, Bill Gates and Warren Buffett – who are avidly funneling their cash into charity. This is due to the idea of The Giving Pledge which is a commitment started by Gates and Buffett to give away at least half of their wealth.
“In 2016, Amazon renovated a vacant hotel on land designated for its new headquarters so it could be used temporarily by the nonprofit Mary’s Place to shelter 200 homeless families. Amazon is designating 47,000 square feet of space at its new corporate office for a permanent Mary’s Place shelter.” In the future we hope to see Amazon make even more strides against the homeless epidemic.