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Jeff Bezos Sets Up $2 Billion Charity Fund For Homeless, Preschools

Jeff Bezos announced on Twitter today that he and his wife MacKenzie are committing $2 billion to two philanthropic efforts: funding nonprofits that help homeless families, and creating a network of new nonprofit preschools in low-income communities.

To do that, Mr. Bezos said he will create an organization that will launch and offer full scholarships for schools in underserved communities. “We’ll use the same set of principles that have driven Amazon,” Mr. Bezos wrote. “The child will be the customer.”

Mr. Bezos, the richest person in the world, is worth $164 billion, according to Bloomberg. Earlier this year he announced he would donate $33 million to a college scholarship fund for undocumented students. Mr. Bezos has been criticized in the past for not making large-scale contributions to charity, particularly compared to Bill Gates. Now he’s playing catch-up.

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