Amazon's Jeff Bezos unveils $2bn philanthropic fund

Amazon CEO Jeff Bezos

Appearing before the Economic Club of Washington on Thursday evening, Bezos warned elected officials that criticizing reporters is an afront to an "essential component of our democracy". "What the president should say is, 'This is right, I'm glad I'm being scrutinised.' That would be so secure and confident".

"But it is really risky to demonise the media. It's unsafe to say that they're the enemy of the people".

But even though Bezos was mum on headquarters news, he did perhaps reveal some insight into his decision-making process as he explained how he chose to commit $2 billion in charity to help homeless families and boost early childhood education.

Senator Bernie Sanders, who has been one of Amazon's most vocal critics, last week introduced the Stop BEZOS Act, aimed at placing a tax on big companies like Amazon and Walmart so they compensate the government for the benefits it has to pay their low-income employees.

The staggering fortunes of the likes of Bezos, Gates and Facebook CEO Mark Zuckerberg have created a second Gilded Age in the United States and "a new generation of megagivers", Callahan said.

The Day 1 Academies Fund will launch and operate a network of high-quality, full-scholarship, Montessori-inspired preschools in underserved communities.

Andhra CM announces Rs 2 cut in petrol, diesel price from Tuesday
As it stands, the sales tax the state has imposed on petrol is 30.37 per cent, and that on diesel is 23.81 per cent. In Mumbai, a litre of petrol costs Rs 87.77 and diesel comes for Rs 76.98, the notification said.


This is not the first time Bezos has publicly defended his newspaper from Donald Trump. Zuckerberg's shares in the social network are now valued at about US$61 billion. Most important among those will be genuine, intense customer obsession.

"The customer is going to be the child", Bezos said.

"We will have to leave this planet, and we're going to leave it", Bezos previously told GeekWire, "and it's going to make this planet better".

"There's been a movement away from band-aid solutions", said Ray Madoff, director of the Boston College Law School Forum on Philanthropy and the Public Good. "I know what Amazon could do when we were 10 people and I know what we could do when we were 1,000 and I know what we could do when we were 10,000, and I know what we could do the day when we are a half a million", he added.

Bezos made the announcement on Twitter a year after asking for ideas on how he could use his personal fortune - now estimated at more than $160 billion - for charitable efforts. "Frankly, philanthropy can't fund all of society's challenges".

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