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

Amazon chief Jeff Bezos gives $2bn to help the homeless

Amazon chief Jeff Bezos gives $2bn to help the homeless

An Amazon spokesperson confirmed that the money will all come from Bezos, though there are few details about how the fund will operate.

He said: "We'll use the same set of principles that have driven Amazon".

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.

Within this, the "Day 1 Families Fund" will support existing non-profits that offer shelter and food to young homeless families.

The fund will also seek to launch and operate "a network of high-quality, full-scholarship, Montessori-inspired preschools in underserved communities", he wrote.

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. Public donations by the 54-year-old Bezos have been rare, and - with exceptions like a $35 million family donation to the Fred Hutchinson Cancer Research Center - typically on a scale far smaller than the two men just behind him in the wealth rankings, Microsoft co-founder Bill Gates and Berkshire Hathaway's Warren Buffett.

A picture shared by Amazon chief Jeff Bezos on Instagram.

According to the research firm eMarketer, Amazon's e-commerce revenue will grow more than 28 percent this year to reach $394 billion, and will account for 49 percent of USA online retail sales and almost five percent of all retail spending. Amazon, it should be said, has responded to these claims before, calling them "inaccurate and misleading".

Employees at Amazon followed Jeff Bezos example and also started 'PJammin'.

Now that question has been answered, at least in part. 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.

Amazon has selected 20 cities as "finalists" for the headquarters and has indicated it would make a decision by year-end.

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