Monday, 19 November, 2018

Jeff Bezos launches $2-billion fund to help the homeless

Derrick Tucker | 14 September, 2018, 09:30

The Amazon founder, the world's wealthiest person, offered detail on his philanthropic goals, announcing the Bezos Day One Fund, which will begin with an initial $2 billion.

The Bezos Day One Fund will issue annual awards to organizations that are doing "compassionate, needle-moving work" to shelter and support the immediate needs of young families, the billionaire announced in a blog post Thursday.

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.

He said: "We'll use the same set of principles that have driven Amazon". "Most important of those will be genuine, intense customer obsession". The Amazon boss and his wife, who have four children, both serve on the foundation's board directors.

The Washington Posts top editor has said that Mr. Bezos has no involvement in its news coverage. "Jeff Bezos is our enemy, he is our enemy", Sawant said before the council voted.

Seattle, where Amazon has its headquarters, has been plagued by the rising number of homeless residents for the past several years.

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Rhodes' action against Fager also exacerbated the longstanding tensions between " 60 Minutes " and the rest of the news division. News broke Wednesday afternoon that CBS terminated Fager's contract early because he had "violated company policy".

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Obama even brought up Trump's refusal to stand up to white supremacists who marched in Charlottesville, Virginia, in August 2017. Meanwhile, Michelle Obama is also stepping up her political involvement ahead of the November midterm election.

The company's push to build a second home base highlights how massively Amazon has expanded during its 20-plus year history.

Many Twitter users agreed with that reasoning. "If billionaires like Bezos were properly taxed then we wouldn't need billionaires like Bezos to sweep in and "rescue" people failed by our underfunded systems," one wrote.

Gates did not fully throw himself into philanthropy until he stepped down as CEO of Microsoft in 2000.

The private non-profit foundation in its 2016 tax filing reported almost $46 million U.S. in assets, and giving away $30 million USA in grants support its missions in early education, K-12 schools reform and youth leadership development and scholarships.

He said he did not know how much money he would eventually give away. While his and Amazon investors' wealth increases-and the company's market capitalization approaches $1 trillion-what makes the business so efficient is that relies on automation and low-priced labor. 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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