Jeff Bezos gives 40 grants worth $123 million to fight homelessness

Jeff Bezos is making his first donation since the Amazon founder pledged last week to give away most of his net worth, which is estimated at $116 billion.

On Tuesday, the Bezos Day One Fund announced $123 million in grants to 40 organizations across the United States. The fund said it hoped the donations would help families move from homelessness and shelters to permanent housing with the services they need to stabilize. The First Day Fund, launched in 2018, is a $2 billion commitment by Bezos to help homeless families and build preschools in low-income areas.

Bezos pledged to give away most of his fortune to his girlfriend, Lauren Sanchez, during a ceremony CNN Interview on November 12. At the time, neither Bezos nor Sanchez provided details about where they plan to donate the money.

Billionaire philanthropist

Bezos has been slower to announce his philanthropic plans than other billionaires, such as Microsoft founder Bill Gates and Berkshire Hathaway chairman Warren Buffett.

Gates earlier this year Pledge to “give almost all of my fortune” to the Bill & Melinda Gates Foundation, promising to “move to the bottom of the list of the world’s richest people and eventually take it out.”

Bezos did not sign the Giving Pledge, a promise by hundreds of the world’s richest people to give away most of their wealth during their lifetime.

Bezos made the biggest donation of 2020: a pledge of $10 billion over 10 years to fight climate change. Bezos and Sanchez have also given grants to other philanthropists, such as a recent $100 million grant to Dolly Parton, intended for the singer’s own charitable foundation. “We could not have thought of a better person than to give this award to Dolly,” Sanchez explained. CNN On November 12th.

During that CNN In an interview, Bezos tried to explain his slower approach, stating that he wanted to ensure that the money was used in a “supported manner.” The Amazon founder added that “there are a bunch of ways … you can do things that are inefficient” with large donations.

A few days after Bezos’ interview, Mackenzie Scott, the world’s richest woman and ex-wife of the founder of Amazon, announced in Average It gave two billion dollars to about 350 organizations in just seven months.

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