Amazon's Bezos says Trump should be 'glad' of media scrutiny

Amazon's Bezos says Trump should be 'glad' of media scrutiny

Jeff Bezos, the Amazon founder, is to launch a philanthropic fund with a $2 billion initial commitment to help homeless families and set up nursery schools in deprived areas.

The first will fund existing nonprofits and issue annual awards to organisations doing "compassionate, needle-moving work" to shelter and support the immediate needs of young families.

The other component, called the "Day 1 Academies Fund," will create "and operate a network of high-quality, full-scholarship, Montessori-inspired preschools in underserved communities", Bezos said.

Bezos hasn't said how much he'll be contributing to the fund in coming years.

The Bezos cash injection follows the philanthropic efforts of other billionaires including Microsoft's Bill Gates, who has donated tens of billions to his foundation.

The private non-profit foundation in its 2016 tax filing reported almost $46 million USA in assets, and giving away $30 million United States in grants support its missions in early education, K-12 schools reform and youth leadership development and scholarships.

Washington Post owner and Amazon founder Jeff Bezos - no stranger to attacks on his companies and himself from President Trump - said that the president should welcome media scrutiny instead of bashing journalists.

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However, he has recently said he is looking to use his wealth for philanthropy, following in the footsteps of Bill Gates and Mark Zuckerberg.

Bezos also said no decision had been made on Amazon's second North American headquarters, known as HQ2, for which 20 cities have been selected as finalists, and that the choice would be made as scheduled before the end of the year.

Gates has also, with billionaire investor Warren Buffett, encouraged wealthy individuals to pledge half their fortunes to worthy causes.

Trump has described The Washington Post as Amazon's "chief lobbyist".

Geek Wire reports that as part of Childhood Cancer Awareness month, Amazon has also rolled out a specially branded Prime Air jet and made charitable donations to two institutions working toward better awareness of childhood cancer.

Last year, Bezos took to Twitter to request ideas for how he use his vast fortune for good. Some activists and politicians have partly blamed the city's problems on Amazon. "What the President should say is, 'This is right".

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