Thursday, 13 December, 2018

Bezos rips Trump for ‘dangerous’ attacks on the media

Sources News reports and announcements Sources News reports and announcements
Priscilla Morrison | 14 September, 2018, 17:12

The Amazon CEO and his wife, MacKenzie, will commit $2 billion to fund existing nonprofits that help homeless families and to create a network of preschools in low-income communities.

Jeff Bezos, who is both famously uncharitable and the wealthiest man in modern history, announced today via a tweet that he'd be allocating $2 billion (about £1.5 billion) - a little over 1 per cent of his net worth - to housing and educating underserved communities. Previous to the creation of the Day One Fund, Bezos and his family had donated only $135 million to charities, including the Fred Hutchinson Cancer Research Center, a nonprofit providing scholarships for the children of parents who immigrated the US illegally and most recently to a bi-partisan organization that gives campaign support to veterans running for political office.

In his Instagram post Jeff Bezos said "Amazonians" were wearing pyjamas to work "across the globe" to raise awareness of childhood cancer. "Most important of those will be genuine, intense customer obsession". After discussing the success of the Washington Post, which Bezos bought in 2013, Rubinstein asked how Bezos responds to criticism - some of which comes from Trump's Twitter feed - of Amazon and the Post.

Later, Bezos told a Washington gathering that the $2 billion was only a start and that he would likely expand his philanthropic efforts. "It was only a matter of time before Bezos would join this new era of big philanthropy". When discussing his charity work with the homeless and schools for children, Bezos said, "All of his best decisions have been made with heart and by trusting gut and instinct as opposed to just analysis".

Research shows 90 per cent of a child's brain development occurs before the age of 5, yet most charitable gifts pegged for education target older children, according to Makdessian.

More news: Ex-Trump aide Manafort tentatively agrees to plea deal

An Amazon spokesperson confirmed that the money will all come from Bezos, though there are few details about how the fund will operate.

We will build an organization to directly operate these preschools.

While the online retail giant's presence made Seattle the fastest-growing big city in the United States, it also has taken a toll on its residents, driving up rent prices, clogging traffic and overwhelming public transportation.

He has also been criticized for not contributing his fortune to philanthropy like other billionaires have, including Microsoft founder Bill Gates and Berkshire Hathaway's Warren Buffett. Alibaba owns the South China Morning Post. Amazon is designating 47,000 square feet of space at its new corporate office for a permanent Mary's Place shelter.

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