Amazon founder Jeff Bezos recently announced a new fund called Day One Fund, which is a $2 billion investment to help families who are homeless and preschools that are in low-income areas. This is an initial commitment and Bezos may follow up with additional funding as needed.
Bezos has been working on setting up this fund over the last few months and he also solicited ideas from the public along the way. On Twitter, Bezos requested ideas from people about which philanthropic causes to focus on.
— Jeff Bezos (@JeffBezos) September 13, 2018
Prior to this announcement, a number of critics have pointed out that Bezos has not been as active in philanthropic efforts as other billionaires like Bill Gates and Mark Zuckerberg despite being the richest man in the world with a net worth of approximately $150 billion.
Sen. Bernie Sanders (I-Vt.) has also been vocal about Amazon’s low wage practices. “Thousands of Amazon workers have to rely on food stamps, Medicaid and public housing to survive,” wrote Sanders in a tweet recently. “That is what a rigged economy looks like.”
The Day One Fund announcement comes on the heels of Bezos and his wife MacKenzie’s $10 million donation to a Super PAC which focuses on electing veterans for public office.
Last week, Bezos said he was going to set up a “Families Fund,” which would issue annual leadership awards to organizations that are working to provide shelter and hunger support for addressing the immediate needs of young families. And an “Academies Fund” will set up “Montessori-inspired preschools” in underserved communities.
Bezos also quietly supports cancer research, marriage equality, and college scholarships for immigrant students. He is also heavily involved in a space company called Blue Origin, which is where he spends about $1 billion per year. And Bezos also owns The Washington Post, an operation that he believes supports American democracy.
Mary’s Place is Bezos’ inspiration to fight homelessness. In Seattle, Mary’s Place has been instrumental in helping serve the homeless.
