Billionaire Jeff Bezos Gives Away $123 Million Of His Wealth
Amazon co-founder Jeff Bezos has donated $123 million to organisations to move homeless people to permanent residences.
Bezos has a net worth of $115 billion
which makes him the fourth richest man in the world.
The grants to 40 groups in 26 US states and Puerto Rico, ranging from $600,000 to $5 million are the latest and largest awards from Bezos’ Day One Fund, which was founded in 2018.
According to the Day One Fund, the donations are effective immediately and are part of a $2 billion total commitment to fighting homelessness.
The foundation made a $2 billion commitment to focus on making meaningful and lasting impacts in two areas: funding existing non-profits that help families experiencing homelessness, and creating a network of new, non-profit tier-one preschools in low-income communities.
Earlier this month: The commitment to fight homelessness is his second charity donation this month. Bezos earlier said that he plans to give away the bulk of his fortune during his lifetime, with most of his philanthropy focused on fighting climate change and supporting those who seek to unify others. He gave Dolly Parton – the music legend who happens to be the latest recipient of his Courage and Civility award $100 million to direct to any charities she chooses.
Why Bezos is donating his money: The fourth richest man on earth announced for the first time during an interview with CNN that he plans to donate his money to people and charities that are unifying humanity and helping to heal deep social and political divides. For years, he largely stayed on the philanthropy sidelines and drew criticism for not signing the Giving Pledge, a promise by many of the world’s richest people to donate the majority of their wealth to charitable causes and Other Philanthropic Gestures.
Bezos’ charity: Forbes estimates that Bezos has donated more than $2.4 billion to charity in his lifetime.
He committed a total of $10 billion to his own climate nonprofit, the Bezos Earth Fund, in 2020. As of November 2021, the fund had granted nearly $1 billion of that total.
Last year, he launched an annual Courage and Civility Award of $100 million that he grants to a recipient to distribute to charities of their choice. He recently granted that award to legendary singer Dolly Parton.
He previously awarded similar amounts to chef Jose Andres, whose World Central Kitchen feeds people in disaster-stricken areas, and Van Jones, climate advocate and CNN contributor.
