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Jeff Bezos and His Wife Launch $2B Fund to Aid Homeless and Low-Income Families

By NexChange
Financial Services

Amazon Founder and Chief Executive Jeff Bezos and his wife Mackenzie have launched a $2 billion fund to aid homeless families and build nonprofit preschools in low-income neighborhoods.

Called the Bezos Day One Fund, the initiative will focus on these two priorities by “funding existing non-profits that help homeless families, and creating a network of new, non-profit, tier-one preschools in low-income communities,” according to a post on Twitter from the Amazon chief.

With a net-worth of about $163.8 billion, Bezos is the richest man in modern history, and his personal fortune has surged by roughly $64.7 billion in 2018 alone. But Bezos has also “been largely invisible in the world of philanthropy,” as Bloomberg notes.

Bezos sent out a “request for ideas” on Twitter last year, asking for ideas about how he should build “a philanthropy strategy that is opposite for how I mostly spend my time – working on the long term.”

The New York Times, which described Bezos philanthropic work as “relatively modest,” reported that the billionaire’s donations have thus far included $15 million to Princeton University, his alma mater, and $35 million to the Fred Hutchinson Cancer Research Center in Seattle, which is the largest donation ever made to the center.

Bezos said in his online post announcing the Day One Fund that its “vision statement” was inspired by Mary’s Place, a Seattle-based non-profit that assists homeless women, children and families.

Photo: Jeff Bezos' Twitter Account

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