Fox News political contributor Tammy Bruce, Christine Pelosi, daughter of Rep. Nancy Pelosi (D-Calif.), American Greatness editor Chris Buskirk on how Amazon CEO Jeff Bezos launched a $2 billion "Day One Fund" to support underserved communities.
The Day 1 Families Fund will start an organisation to operate a new network of full-scholarship preschools for low-income communities.
"We'll use the same set of principals that have driven Amazon", wrote Bezos of the preschool management. Most important among those will be genuine, intense customer obsession. "The child will be the customer", he wrote in his post. Outside of that, Bezos and his family's known donations have included gifts to Princeton University and Seattle's Fred Hutchinson Cancer Research Center, according to the Chronicle of Philanthropy.
The newspaper says Bezos has no involvement in its news coverage. "The media is going to be fine", he said during the conversation with economic club president David Rubenstein. Amazon warehouse employees are known to have very bad working conditions, pitiful wages, and have even been forced into homelessness after workplace injuries.
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And earlier this year, under pressure from Amazon and other large employers, Seattle's city council repealed an employee head tax that would have funded housing and services for the homeless.
"Another way we're raising awareness is through our special #GoGold boxes - you may receive one during September", he added.
An Amazon spokesperson confirmed that the money will all come from Bezos, though there are few details about how the fund will operate. Zuckerberg's shares in the social network are now valued at about US$61 billion.
Bezos has yet to sign the Giving Pledge, an initiative launched by Gates encouraging billionaires to commit to giving away most of their wealth. While his and Amazon investors' wealth increases-and the company's market capitalization approaches $1 trillion-what makes the business so efficient is that relies on automation and low-priced labor. Earlier this year, the company partnered with the Seattle nonprofit Mary's Place to build a permanent homeless shelter in its headquarters.