Wednesday, 26 September, 2018

Amazon's Bezos comments on Trump criticism

Amazon CEO Jeff Bezos Amazon CEO Jeff Bezos
Grady Vargas | 14 September, 2018, 12:11

The Bezos Day One Fund will focus on two initiatives, the billionaire announced in an online post Thursday. Previous to the creation of the Day One Fund, Bezos and his family had donated only $135 million to charities, including the Fred Hutchinson Cancer Research Center, a nonprofit providing scholarships for the children of parents who immigrated the US illegally and most recently to a bi-partisan organization that gives campaign support to veterans running for political office.

There will also be full scholarships for Montessori-inspired preschools in "underserved" communities, he said. Last year, Bezos said that he wanted to use philanthropy to help solve society's issues in the "here and now". "The secret sauce of Amazon - the number one thing that has made us successful has by far is obsessive, compulsive focus on the customer".

Bezos and Amazon's board of directors are convening in Washington, D.C., this week ahead of a series of high-profile appearances for Bezos, who also is the owner of the Washington Post, among other personal properties.

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.

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The missive set off a frenzy of responses, including pleas to support health care, loan forgiveness and even offbeat appeals to back a leather fetish museum in Chicago. He has not signed on to the Giving Pledge, and the Bezos Family Foundation is reportedly run by his parents; Bezos does not play an active role. Bezos offered no hint of his leanings in the interview but said the company will announce a location this year. But in the world of ultra-rich tech philanthropists, it's roughly on par with other do-gooding efforts.

More than a year after putting out an open call for suggestions about what to do with his spectacular wealth, Jeff Bezos has come back with a decision.

Gates did not fully throw himself into philanthropy until he stepped down as CEO of Microsoft in 2000. "If you can give somebody a leg up when they're 2, 3 or 4 years old, by the time they get to kindergarten of first grade, they're much less likely to fall behind". We will build an organization to directly operate these preschools. Zuckerberg's shares in the social network are now valued at about US$61 billion. Some activists and politicians have partly blamed the city's problems on Amazon. It previously helped the nonprofit temporarily house 200 homeless people. Amazon is designating 47,000 square feet of space at its new corporate office for a permanent Mary's Place shelter.

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