Amazon's Jeff Bezos commits $2 billion to help homeless, pre-schools

Jeff Bezos of Amazon speaks at the Bush Centers Forum on Leadership in Dallas

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.

The Day 1 Families Fund will issue annual leadership awards to organizations and civic groups doing compassionate, needle-moving work to provide shelter and hunger support to address the immediate needs of young families.

The Day 1 Families Fund will start an organisation to operate a new network of full-scholarship preschools for low-income communities.

To raise awareness about childhood cancer, which is the second leading cause of death in the USA between kids aged 4 and 14, Amazon's Jeff Bezos wore pajamas to a meeting on Wednesday. "Most important of those will be genuine, intense customer obsession".

Jeff Bezos, president and CEO of Amazon and owner of The Washington Post, speaks at the Economic Club of Washington DC's "Milestone Celebration Dinner" in Washington, U.S., September 13, 2018.

It is not surprising that the world's richest person "is finally getting serious about philanthropy", said David Callahan, founder of website Inside Philanthropy.

However, he has recently said he is looking to use his wealth for philanthropy, following in the footsteps of Bill Gates and Mark Zuckerberg.

As with most investment decisions by the Amazon founder, this one was likely grounded in data and science.

Bezos thanked people for sending in suggestions about what he should spend money on.

Bezos has yet to sign the Giving Pledge, an initiative launched by Gates encouraging billionaires to commit to giving away most of their wealth. Some activists and politicians have partly blamed the city's problems on Amazon. It also comes as tech giants like Amazon face the threat of tougher regulations to protect consumer privacy and complaints from the Republican-controlled Congress and White House over alleged liberal bias influencing how their offerings are presented to consumers.

In 2016, Amazon renovated a vacant hotel on land designated for its new headquarters so it could be used temporarily by the non-profit Mary's Place to shelter 200 homeless families.

Related news: