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

Amazon chief Jeff Bezos gives $2bn to help the homeless

The other component, called the "Day 1 Academies Fund", will create "and operate a network of high-quality, full-scholarship, Montessori-inspired preschools in underserved communities", Bezos said. Its vision statement comes from a fundraising campaign, "No Child Sleeps Outside", for Mary's Place, a Seattle homeless shelter that Amazon donated more than 47,000 square feet of space to in one of its buildings and which provides a home to 200 women, children and families.

To raise awareness about childhood cancer, which is the second leading cause of death in the United States between kids aged 4 and 14, Amazon's Jeff Bezos wore pajamas to a meeting on Wednesday.

I want to close be thanking everyone who sent me suggestions, and for the inspiring examples of innovation I see every day, large and small.

An Amazon spokesman didn't have details on who would run Bezos' new initiative, or where the group would be based.

Bezos is worth $164 billion, according to the Bloomberg Billionaires Index, a sum mostly derived from the about 16 percent stake in Amazon that he owns. Forbes magazine placed him at the top of its list of billionaires for the first time this year, surpassing Microsoft co-founder Bill Gates and investor Warren Buffett.

So, Jeff, from one member of the human species to another, I implore you to not only engage in philanthropy but also try to understand how you can fix Amazon's problems to set a better example.

"We will build an organization to directly operate these schools".

More than a year ago, Bezos posted to Twitter a request for suggestions on philanthropic initiatives created to make a difference in the short term.

In the past, Bezos has made political contributions, but not of this magnitude. As per the current Giving Pledge signatory, Bezos is not participating.

Earlier this year Amazon played a pivotal role in diminishing and ultimately defeating a Seattle business tax to fund homelessness services and affordable housing.

Last year, he donated $33 million to fund scholarship for "dreamers", the name given to undocumented children of immigrants who face legal obstacles in attending college or university.

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