Bezos promises Amazon HQ2 decision will be announced by year's end

14 September, 2018, 17:12 | Author: Regina Silva
  • Amazon CEO Jeff Bezos

Jeff Bezos, the Amazon founder, is to launch a philanthropic fund with a $2 billion initial commitment to help homeless families and set up nursery schools in deprived areas. (The foundation was formed from the merger of two smaller, pre-existing efforts: the William H. Gates Foundation and the Gates Learning Foundation.) The organization, which is focused on global health and education, has distributed $46 billion to grant recipients through a year ago.

While he has financially supported cancer research and scholarships for immigrants, among other causes, Mr Bezos has primarily devoted his fortune to his Blue Origin rocket company, which he described on Thursday as an "investment in the future of our planet through the development of foundational space infrastructure".

Amazon CEO Jeff Bezos says a decision is coming on the company's second headquarters but offers no hints. The new "Bezos Day One Fund" is the result; it'll work to issue "awards" to existing nonprofits that provide shelter and food to homeless young families.

Despite his fortune, Bezos has not been a major philanthropic donor and Amazon has been criticized in its home of Seattle, Washington, for doing little to address problems of the growing homeless population.

"All big institutions of any kind are going to be and should be examined, scrutinized and inspected", he said.

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 USA government postal operator.

The Day 1 Academies Fund will launch and operate a network of high-quality, full-scholarship, Montessori-inspired preschools in underserved communities.

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Discussing the preschools he would be funding, Bezos said he would focus on children the way Amazon does its customers. Business innovators who invent products that empower, authors who write books that inspire, government officials who serve their communities, teachers, doctors, carpenters, entertainers who make us laugh and cry, parents who raise children who go on to live lives of courage and compassion, and many more.

"We will build an organisation to directly operate these schools".

Many were eager to hear any hint of where Bezos had chose to put Amazon's second headquarters, with multiple locations in the Washington region in contention.

The so-called Day One Fund will be multi-billionaire businessman's most significant foray into philanthropy to date.

With a personal fortune of US$163.8 billion, according to the Bloomberg Billionaires Index, the Amazon chief executive officer had been largely invisible in the world of philanthropy. "Most important of those will be genuine, intense customer obsession".

Demonising the media and calling them "the enemies of the people" is unsafe, Bezos said.

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