Amazon CEO Jeff Bezos Announces $2 Billion Fund to Help Homeless Families

Sources News reports and announcements

Bezos, the founder of Amazon.com, said he would begin with an initial commitment of $2 billion to create what he called the Day One Fund. The fund will be split between Day 1 Families Fund and Day 1 Academies Fund.

For the homeless, grants will be given to organisations "doing compassionate, needle-moving work to provide shelter and hunger support to address the needs of young families", Bezos said on Twitter.

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

The world's richest man made the announcement on Twitter a year after he asked for ideas on how he could use his personal fortune - estimated to be about $163bn (£124.34bn) - for charitable efforts. 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".

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 on September 13, 2018.

Insanely rich human being Jeff Bezos announced today his intention to do something he rarely ever does: philanthropy.

"We're hoping that local, state and federal governments see this as a call to invest more in preschool and childcare", he said.

'Don't play games with it': Florence takes aim at Carolinas
Privately, you may be wondering (and you wouldn't be alone): "What exactly is storm surge? ". The slow-moving storm, with maximum sustained winds of 130 miles per hour, is expected.

Dead - Including Gunman - In Rampage Near Bakersfield
The man killed his wife and a man at a trucking company in Bakersfield, California , Kern County Sheriff Donny Youngblood said . Sheriff's interviewed more than 30 witnesses and have served five search warrants, according to the CBS affiliate KBAK-TV.

Never gave Vijay Mallya any appointment: Arun Jaitley
Vijay Mallya has been charged with money laundering and bank fraud worth Rs 9000 crore and fighting an extradition case. Jaitley's clarification that he didn't meet Mallya officially and snubbed his settlement offer isn't enough.

"I don't feel the need to defend Amazon", Bezos said. It is a contrast to the long view that Bezos has preached at Amazon and Blue Origin, the space-travel technology company he has been funding with $1 billion a year through the sale of Amazon stock. In January, Bezos also personally gave $33 million United States in college scholarships for young immigrants living in the USA illegally.

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.

"I don't know how much I'm going to give away", he told economic club president David Rubenstein.

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.

The newspaper says Bezos has no involvement in its news coverage.

The Amazon chief's wealth has become problematic for some.

The comments appeared to be the first direct, public rebuke of Mr Trump by Mr Bezos, a frequent target of attacks by the President.

Related news:

Hot News

isis-killer-beheading-video-story-top Canada’s Freeland returns to Washington for NAFTA talks
Sep 14, 2018 - 13:23
Eares are on the ground for U.S. and China developments but at the fore again was the NAFTA negotiations. Lighthizer faces pressure on dairy from U.S.

isis-killer-beheading-video-story-top Woodward: Mattis, Kelly denials of his book quotes on Trump untrue
Sep 14, 2018 - 12:11
Several prominent figures in the book have denied quotes that Woodward attributes to them. Cohn and Porter. "Their statement was excellent", he said .

isis-killer-beheading-video-story-top Carolinas Brace for Extremely Dangerous Hurricane Florence
Sep 14, 2018 - 07:15
People rushed to get emergency kits ready, map out escape routes, fill sandbags and secure their homes. My people just informed me that this is one of the worst storms to hit the East Coast in many years.

isis-killer-beheading-video-story-top Brown signs bill requiring 100% clean electricity, updating RPS
Sep 13, 2018 - 23:59
ROMERO: The legislation calls on electric utilities to move faster toward previous renewable energy goals. But the supply of renewable energy varies from day to day - even moment to moment.

isis-killer-beheading-video-story-top Russians claiming to be Salisbury suspects say they were just tourists
Sep 13, 2018 - 22:29
Britain accused Russian Federation of responding with "obfuscation and lies" after the RT interview was aired this morning. The men, who appeared to be about 40, claimed they did not know who Skripal was or where he lived.

isis-killer-beheading-video-story-top '60 Minutes' Executive Producer Jeff Fager to Step Down Amid Controversy
Sep 13, 2018 - 21:15
Moonves said he would only pay a tiny fraction of the penalties, my incredulous agent asked what he should tell me". The " Designing Women " creator penned a scathing essay alleging that the fallen CBS president derailed her career.

isis-killer-beheading-video-story-top Nintendo Switch Online finally has a concrete launch date
Sep 13, 2018 - 20:47
Mario , with newly-added online multiplayer, with Nintendo promising that 20 NES games will be available at launch. The premium service was originally slated to arrive in late 2017, but was eventually pushed back by nearly a year.

Check out the official iPhone XS, XS Max and XR promo videos
Sep 13, 2018 - 20:15
For those who are interested in the lower-priced iPhone XR complete with LCD panel, pre-orders will begin on October 19th. The iPhone XS , iPhone XS Max and iPhone XR will be in stores by the end of September, and they will not come cheap .

isis-killer-beheading-video-story-top President Trump rejects Puerto Rico death toll, blames Democrats
Sep 13, 2018 - 18:09
House Democratic Whip Steny Hoyer, D-Md., released a statement calling for the president to apologize. According to CBS News correspondent David Begnaud , the water bottles were provided by the U.S.

isis-killer-beheading-video-story-top Meghan Markle mocked by half-sister Samantha in latest rant
Sep 13, 2018 - 17:16
And she's also now one of the most scrutinised, with her every move and outfit picked apart during every public appearance. "Nice people don't dump everyone.It's a habit...actually it is an MO she disowns everyone after they are spent".

isis-killer-beheading-video-story-top Flight 93 'Tower of Voices' Memorial Dedicated on Eve of 9/11 Anniversary
Sep 13, 2018 - 15:43
President Donald Trump is scheduled to speak at the ceremony in Shanksville, Pa ., according to the National Park Service . Today, people all around the US are remembering and honoring the lives that were lost that day.

isis-killer-beheading-video-story-top Hurricane Florence to deliver 'life-threatening' surges and rain despite downgrade
Sep 13, 2018 - 15:43
And the more it hovers just off shore - a distinct possibility - the more potentially deadly storm surge it pushes on-shore. TRACKING FLORENCE: Stay with The Weather Network online and on T.V. for our exclusive coverage of the storm.

isis-killer-beheading-video-story-top Aaron Rodgers Has Knee Sprain, Skips Practice
Sep 13, 2018 - 15:30
Rodgers said after the game he would undergo more tests, though he planned to play against Minnesota. Wearing a brace could be an option, depending on how the quarterback feels later in the week.

isis-killer-beheading-video-story-top Beware! These Mac apps might be stealing your data
Sep 13, 2018 - 13:15
It was removed by Apple, but the developer renamed it as Adware Doctor which has been sold via the App Store until this week. The company says it has updated the apps and they have deleted the logs from those apps including users browsing history.

isis-killer-beheading-video-story-top Neville says Spurs star should have been given England break
Sep 13, 2018 - 13:12
He's got that upper body strength, holds people off and brings people into play as he did for the first goal against Spain . I think Harry at that age had hardly played anywhere near the matches for Spurs .