Amazon CEO Jeff Bezos announces $2 billion fund to help homeless families

Sources News reports and announcements

Sources News reports and announcements

Bezos said it is "healthy" for society to be "worried about big institutions" and agreed that they "should be examined, scrutinized, inspected".

Bezos spoke more specifically to Amazon's success, citing customer care as its keystone. It's risky to call the media low-lifes. The new "Bezos Day One Fund" is the result; it'll work to issue "awards" to existing nonprofits that provide shelter and food to homeless young families.

Bezos said his fund will launch "Montessori-inspired" nurseries - referring to the popular child-centered educational approach - in low income areas.

"When people in his position make this commitment, it's fabulous", Hennessey says.

Amazon CEO and world's richest man Jeff Bezos has invoked Twitter wrath for seemingly an all-around commendable cause - setting up a charity fund to fight homelessness and create a preschool network for the underprivileged. Amazon has said Sanders' statements about the company were "inaccurate and misleading".

He also repeated a previous mantra that Amazon's secret sauce is "obsessive compulsive" focus on the consumer, rather than its competitors.

Trump has frequently made Bezos and the Washington Post top targets for his criticism of the press and has often attacked the newspaper and other media outlets for publishing accounts and quotes from anonymous sources inside his White House. "Most important among those will be genuine, intense customer obsession", he tweeted. He said he would continue to give away money over time and invest in his rocket company, Blue Origin, as a vehicle for colonizing space.

More news: Typhoon Mangkhut rips through Hong Kong as Philippines death toll rises

Amazon CEO Jeff Bezos, who typically tries to stay out of the political fray, has mounted a vigorous defence of press freedom, saying President Donald Trump should be "glad" to face media scrutiny. He said he was supporting "American democracy through stewardship of the Washington Post" and pointed to the contributions he has given to cancer research, marriage equality and college scholarships for immigrant students.

These terms of endearment are all things Trump has said about the news media, most of which came out via his Twitter account.

"We're going to push through this", he added. "We're going to be scientific when we can be, and we're going to use heart and intuition when we have to".

While Bezos was thinking about where best to put his own money, Amazon stepped up its corporate giving, focused on growing inequality in its hometown of Seattle.

Bezos was interviewed at the event by David Rubenstein, co-chairman of the Carlyle Group. "Who in their right mind would argue against trying to help homeless people and underserved preschoolers?" he said.

This article was written by Christian Davenport and Abha Bhattarai, reporters for The Washington Post.

Latest News