Posts Tagged ‘Bill & Melinda Gates Foundation’

Bezos Pledges $2 Billion to Aid Homeless Families

September 21, 2018

The title of this post is identical to the first part of a title of an article by Abha Bhattarai and Christian Davenport in the 14 Sep 2018 issue of the Washington Post. The remainder of the title is “launch preschool network.” Bezos is the world’s richest man and the founder of amazon.com and also the owner of the Washington Post. He is beginning an initial commitment of $2 billion to create what he is calling the Day One Fund. Bezos said, “We know for a fact that if a kid falls behind it’s really, really hard to catch up. If you can find somebody a leg up when they’re 2, 3 or 4 years old, by the time they get to kindergarten or first grade, they’re much less likely to fall behind. You’re really improving their lives.”

This announcement comes a few weeks after the first major political contribution from Bezos and his wife, MacKenzie—a $10 million gift to a super PAC focused on electing veterans to public office. In January, he said he would donate $33 million to a scholarship fund for young “dreamers,” immigrants brought to the United States illegally as children.

Kyle Caldwell, executive director of the Johnson Center for Philanthropy at Grand Valley State University in Grand Rapids, MI., said “As an individual commitment, $2 billion is pretty high, but it’s not in the league of a Bill & Melinda Gates Foundation which last year had a $50.7 billion endowment. But this is part of a wave we’re seeing within Silicon Valley, where a number of successful entrepreneurs are looking at philanthropy to have a greater impact.

In 2010, Warren Buffet along with Bill & Melinda Gates created the Giving Pledge, which calls on billionaires to pledge the majority of their wealth to charity. Nearly 200 people from 22 countries have signed on, including Mark Zuckerberg, Elon Musk, Carl Icahn, T. Boone Pickens, and Ted Turner.