Amazon founder pledges $2b for the homeless

What about your workers? Amazon’s Bezos gets grief for $2bn fund to help homeless & children

The Bezos Day One Fund will contribute to existing non-profit organisations that help homeless families and also fund a network of new, non-profit, tier-one pre-schools in low-income communities, he wrote.

Bezos, whose companies are a frequent target of Trump's criticism, didn't mention Trump by name but assailed the president's attacks on the media.

Jeff Bezos, founder and CEO of Amazon, was named the richest man in modern history when his fortune hit the US$150 billion mark in July.

Bezos said early childhood education is a critical area and that "the money spent there is going to pay big dividends for decades". But he had not engaged in much philanthropy - at least publicly - until this week.

But the attacks on the press - while unsafe - aren't stronger than US institutions, Bezos said. Where are the opportunities to make things better?

Seattle-based Amazon has announced that all three areas - which are located within a commuter's drive of the Post and a home Bezos is building - are among 20 regions under consideration for what the company has called HQ2.

Trump in the spring repeatedly said without evidence that package deliveries by the U.S. Postal Service for Amazon were costing the service money. In January, Bezos also personally gave $33 million in college scholarships for young immigrants living in the US illegally.

"Thousands of Amazon workers have to rely on food stamps, Medicaid and public housing to survive", Sanders tweeted earlier this month.

Bezos's personal wealth has soared with the value of Amazon, whose stock price has doubled over the past year with its expansion into new sectors and geographies. There will also be full scholarships for Montessori-inspired preschools in "underserved" communities, he said. In 2010, Buffett and Gates created the Giving Pledge, which calls on billionaires to pledge the majority of their wealth to charity.

"I do defend the Post", he said.

By choosing to focus his philanthropy on homelessness and early education, Bezos is likely influenced both by his parents' Bezos Family Foundation and by his adopted hometown of Seattle, however mixed some natives may feel about the city's growing affordability crisis that's been largely attributed to the success of Amazon. "The media is going to be fine", he said during the conversation with economic club president David Rubenstein. You're going to get scrutinized. "The child will be the customer".

Most important among those will be genuine, intense customer obsession. We're going to be obsessively, compulsively focused on the child. When that happens, he said he tries to address the root of the problem.

At a rare public-speaking appearance on Thursday night at the Economic Club of Washington, DC, Bezos provided a few more details about his new giving, saying he plans to hire an executive team for the preschool network soon.

Bezos vowed to build an organization that will start and operate the preschools, adding that, "I'm excited about that because it will give us the opportunity to learn, invent, and improve".

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