Jeff Bezos plans to give most of his money to charity

Former Amazon chief Jeff Bezos is the newest tech CEO hoping to be identified for his philanthropy. The Amazon founder informed CNN in an interview that he intends to offer most of his web price (presently $124 billion) to charity throughout his lifetime. Most of it’ll go towards both countering local weather change or supporting those that can create “unity” for humanity. Whereas Bezos shared few particulars, he and accomplice Lauren Sánchez stated they have been “constructing the capability” to offer this fortune to others and hope to profit from the funding.

Earlier than the revelation, Bezos announced a $100 million donation to singer and literacy advocate Dolly Parton. The chief beforehand pledged $10 billion over the course of a decade to the Bezos Earth Fund, which goals to drive political and technological options to human-made local weather change. Bezos’ ex-wife, MacKenzie Scott, has already given away about $4 billion to organizations prior to now a number of months.

The technique is acquainted. Microsoft co-founder Invoice Gates is well-known for donating to charities and scientific analysis via the Invoice & Melinda Gates Basis, and (together with Warren Buffett) based The Giving Pledge to encourage billionaires to contribute at the least half of their cash to good causes. In 2015, Meta co-founder Mark Zuckerberg promised to donate 99 % of his firm shares, then price $45 billion, to the Chan Zuckerberg Initiative. The Fb creator signed The Giving Pledge in 2010. Bezos hasn’t signed the pledge, though this transfer would qualify.

As with different tech CEOs making massive donations, although, Bezos faces criticism over his legacy. Amazon has repeatedly fought local weather laws, and noticed its emissions spike in 2021 regardless of a dedication to decreasing its environmental affect. And whereas he has argued that Amazon must deal with its workers higher, the tough warehouse working situations on the coronary heart of the difficulty emerged below his watch.

There are additionally questions as to why he waited till now to offer most of his cash to charity. Whereas he has usually made charitable pledges, he has additionally poured funds into aspect initiatives that have not completed a lot to advance humanity, at the least not within the quick time period — sending wealthy individuals into area with Blue Origin, for instance. As with Gates and Zuckerberg, there is a concern Bezos is making an attempt to fix his repute by offloading most of his wealth.

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