Published: Fri, September 14, 2018
Finance | By Jaime Brady

Amazon founder Bezos announces $2B charitable fund

Amazon founder Bezos announces $2B charitable fund

That vow came despite the fact that the Post, citing anonymous sources, also reported that Amazon's board of directors was traveling to Washington.

His private ownership of The Washington Post, which has published articles critical of the White House, has also put him at odds with US President Donald Trump. The initiative will be called the Bezos Day One Fund, borrowing from Amazon's corporate mantra to approach tasks with the initiative of a startup's first day.

One part of the effort, dubbed the "Day 1 Families Fund," will give money to non-profit organizations that are "doing compassionate, needle-moving work to provide shelter and hunger support to address the immediate needs of young families", Bezos's message stated.

Mr Jeff Bezos, founder of Amazon and owner of the Washington Post newspaper, warned on Thursday (Sept 13) that President Donald Trump's attacks on the media are unsafe for the country.

"We are so inventive that whatever regulations are promulgated, that will not stop us from serving customers", Bezos said in a question-and-answer session at a dinner hosted by the Economic Club of Washington. In the summer of 2017, Bezos tweeted a request from the masses for philanthropic ideas "at the intersection of urgent need and lasting impact". And while his new charitable endeavor should be applauded, many have noted that a number of his Amazon workers remain underpaid and endure hard working conditions. But it's really risky to demonize the media. It is risky to call the media low lifes, it is unsafe to say that they are the enemy of the people. Bezos said it is important for politicians not to vilify big businesses since they can create so much value. This year, Gates also announced it was taking up systemic poverty in the U.S. We're going to be obsessively, compulsively focused on the child.

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"We're hoping that local, state and federal governments see this as a call to invest more in preschool and childcare", he said.

Bezos disappointed them all, saying only that he would make a decision on the location of the new headquarters by the end of the year.

Amazon has said the senator's statements about the company are "inaccurate and misleading".

Bezos, now the world's richest person, asked Twitter followers a year ago for ideas about how he should shape his "philanthropy strategy".

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