(The foundation was formed from the merger of two smaller, pre-existing efforts: the William H. Gates Foundation and the Gates Learning Foundation.) The organization, which is focused on global health and education, has distributed $46 billion to grant recipients through past year. It is a contrast to the long view that Bezos has preached at Amazon and Blue Origin, the space-travel technology company he has been funding with $1 billion a year through the sale of Amazon stock.
Zuckerberg, who founded Facebook a decade after Bezos created Amazon, said three years ago that he and his wife, Priscilla Chan, would eventually give away 99 percent of their Facebook shares - worth $45 billion at the time - to efforts including eliminating "all disease in our children's lifetime". The first will provide annual leadership awards to existing nonprofits "doing compassionate, needle-moving work to provide shelter and hunger support to address the immediate needs of young families", said Bezos in a statement.
Bezos' announcement comes on the heels of a number of high-profile philanthropic efforts by the country's tech billionaires.
The Bezos gift is one of the biggest single donations ever announced for preschools, if not the biggest, said Avo Makdessian, director of the Silicon Valley Community Foundation's Centre for Early Learning. We're going to be obsessively, compulsively focused on the child.
The fund will also seek to launch and operate "a network of high-quality, full-scholarship, Montessori-inspired preschools in underserved communities", he wrote.
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The private non-profit foundation in its 2016 tax filing reported almost $46 million U.S. in assets, and giving away $30 million USA in grants support its missions in early education, K-12 schools reform and youth leadership development and scholarships.
Many were eager to hear any hint of where Bezos had made a decision to put Amazon's second headquarters, with multiple locations in the Washington region in contention. "Most important of those will be genuine, intense customer obsession". Since March 2016, Amazon customers have also been able to order items from the Mary's Place's wishlist on the site, such as diapers and socks. "But it is really unsafe to demonize the media". They call their project the "Bezos Day One Fund".
Bezos thanked people for sending in suggestions about what he should spend money on.
Jeff Bezos, the founder and CEO of Amazon, just made a long-awaited announcement about what philanthropic causes would benefit from his enormous fortune - which has doubled in one year and is now estimated at more than $160 billion.