$2 billion funds have been dedicated by Jeff Bezos and his wife MacKenzie Bezos to carry out both the initiatives which he calls Bezos Day1 Fund. Behind this fund will be two groups - the Day 1 Family Fund and the Day 1 Academies Fund.
Bezos is creating a network of non-profit preschools for students who belong to low-income communities. Additionally, Bezos hopes to aid the existing non-profit organizations to tackle the homeless crisis by making food and shelter accessible to the homeless destitute.
The Day1 Family Fund will cater to homeless households by providing the existing organizations, performing the “needle-moving work”, with a yearly allowance.
The Day1 Academies Fund will administer the launching and operating of a network of top quality, Montessori-inspired preschools offering full scholarships to the student.
“We’ll use the same set of principles that have driven Amazon,” wrote the tech mogul on a notice posted on his Twitter handle. “Most important among those will be genuine, intense customer obsession. The child will be the customer.
This development unveiled after a year the Amazon founder posted on Twitter urging his 222,000 followers for suggestions on philanthropic offering that would address urgent needs and also have a lasting impact on the society. In less than six hours after his request on the networking site, there were more than 3,600 replies, suggesting for contributions in affordable housing, improvement in healthcare facilities, veterans’ organizations and LGBT causes, etc.
Until now, Bezos, 54, has taken modest steps in philanthropic activities. Earlier he and his family have donated $15 million to his alma mater, Princeton University and contributed $35 million to the Fred Hutchinson Cancer Research Center in Seattle.
Earlier this year Tesla’s Elon Musk and the co-founders of Airbnb, have signed the campaign “The Giving Pledge”, a commitment started by Bill Gates and Warren Buffett in June 2010, to contribute a majority of their wealth to charitable causes either during their lifetime or upon their death.