Science and Tech


Jeff Bezos Is Committing $2B To Homeless Families, Schools

The Amazon CEO announced Thursday that the new philanthropic initiatives will be called the Bezos Day 1 Fund.
Posted at 4:33 PM, Sep 13, 2018

The richest person in the world is making a big contribution toward helping homeless families and providing education in underserved communities.

Amazon CEO Jeff Bezos announced Thursday that he and his wife, MacKenzie, are launching the Bezos Day One Fund with a $2 billion commitment.

According to Bezos, the money will serve two initiatives. The Day 1 Families Fund will support current nonprofits that feed and house homeless families. The Day 1 Academies Fund will start a group of full-scholarship, "high-quality" preschools in low-income areas. 

Bezos said his strategy for the funds is to use the same principles that Amazon does. He referred to one of them as "genuine, intense customer obsession," where in this case, the customer is the child. 

While he has made some notable donations recently, some have called for the billionaire to put more money toward charitable causes. Last year, Bezos asked his Twitter followers for philanthropy ideas.  

According to Bloomberg, Bezos' net worth is at least $160 billion.  

Additional reporting from Newsy affiliate CNN