Published: Fri, September 14, 2018
Sci-tech | By Eric Barnett

Amazon CEO Jeff Bezos launches a $2 bln philanthropic fund

Amazon CEO Jeff Bezos launches a $2 bln philanthropic fund

Even so, Amazon insisted it was "deeply committed" to tackling homelessness in Seattle and said it would continue to invest in local nonprofits that work with the homeless.

He said he did not know how much money he would eventually give away. "You're really improving their odds". Where are the opportunities to make things better? Apple reached that milestone a few weeks earlier. In 2012, he donated $2.5 million to uphold Washington state's same-sex marriage law. The Seattle-based Bill and Melinda Gates Foundation as the world's largest private nonprofit foundation has an endowment worth over $40 billion USA and has long supported homelessness services for families in the city. "But this is part of a wave we're seeing within Silicon Valley, where a number of successful entrepreneurs are looking at philanthropy to have a greater impact".

Bezos, and Amazon, have been criticized in Seattle for not doing more to help the needy and have become focal points in the booming region's angry debate about traffic, housing prices and homelessness.

"That's what a rigged economy is about", Sanders said, as he introduced the bill.

The fund will help organizations and shelters provide services for homeless families and will put money toward building a network of free Montessori-like schools for underprivileged communities.

"The answer is very simple", Bezos told David Rubenstein, the president of the Economic Club, when asked about the topic. Almost 200 people from 22 countries have signed on, including Facebook founder Mark Zuckerberg, Tesla's Elon Musk, Carl Icahn, T. Boone Pickens and Ted Turner.

"We'll use the same set of principles that have driven Amazon", wrote Bezos. "The team is working their butts off on it and we will get there".

In coming to his decision on what areas to pursue, he said on Twitter Thursday that he wanted to continue finding ways to improve society from one generation to the next.

Upcoming Apple iPhones to Have Dual SIM and Dual 4G Functionality
Stay tuned on Phone Radar for more details! This year may be the same, though we haven't heard much about the smaller model. Oh, and you may have noticed " iPhone Xs Max " mentioned up there; that's the rumoured name of the 6.5-inch model.

Along with running Amazon the tech mogul owns space exploration company Blue Origin and the Washington Post newspaper.

"But I will say this: I do think it's a mistake for any elected official to attack media and journalists".

And taking a look at social media, it's not Bezos alone.

Some analysts have suggested Amazon could face antitrust scrutiny over its growing power in the economy, and President Donald Trump has accused the company of taking advantage of the Postal Service, despite studies suggesting the internet giant's deal has been beneficial to the U.S. government postal operator. Bezos said all large institutions are subject to scrutiny and he doesn't see it as a threat to his business. However, he said it is risky for politicians to "demonize the media". It's unsafe to call the media low-lifes. "It is risky to call the media lowlifes, it is unsafe to say that they are the enemy of the people". Until now, the Bezos Family Foundation, best known for supporting children's education, has been largely funded by his parents from Amazon holdings they acquired as early investors in their son's enterprise.

"The customer is going to be the child", Bezos said. "Most important of those will be genuine, intense customer obsession. We're going to be scientific when we can be, and we're going to use heart and intuition when we have to".

Bezos made the announcement Thursday in a tweet and a post on his Instagram account.

This article was written by Christian Davenport and Abha Bhattarai, reporters for The Washington Post.

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