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Jeff Bezos unfazed by antitrust concerns on Amazon

Jeff Bezos unfazed by antitrust concerns on Amazon

The wealth that Bezos has amassed hasn't come without controversy, as many critics point to poor working conditions at his facilities while others say he doesn't do enough for the public good.

Amazon founder Jeff Bezos, the richest person on the planet, said Thursday he was creating a philanthropic fund to help homeless families and launch preschools in low-income communities, committing an initial $2 billion to the cause.

Bezos tweeted a statement Thursday that the fund will issue annual leadership awards to organizations "doing compassionate, needle-moving work to provide shelter and hunger support to address the immediate needs of young families".

To raise awareness about childhood cancer, which is the second leading cause of death in the United States between kids aged 4 and 14, Amazon's Jeff Bezos wore pajamas to a meeting on Wednesday. After discussing the success of the Washington Post, which Bezos bought in 2013, Rubinstein asked how Bezos responds to criticism - some of which comes from Trump's Twitter feed - of Amazon and the Post.

The Bezos cash injection follows the philanthropic efforts of other billionaires including Microsoft's Bill Gates, who has donated tens of billions to his foundation.

The fight soured many more locals on Amazon and Bezos, and also overshadowed the growing portfolio of philanthropy they had done in the city.




Mr Bezos solicited ideas on Twitter a year ago for ways to donate some of his wealth.

Many were eager to hear any hint of where Bezos had made a decision to put Amazon's second headquarters, with multiple locations in the Washington region in contention.

His private ownership of The Washington Post, which has published articles critical of the White House, has also put him at odds with US President Donald Trump. Most important among those will be genuine, intense customer obsession. But it's really unsafe to demonize the media.

"Another way we're raising awareness is through our special #GoGold boxes - you may receive one during September", he added. The most notable involving more than $40 million U.S. to the local nonprofit FareStart - a hospitality training program and restaurant business that aims to combat homelessness and poverty - and Mary's Place, whose mission to find and provide shelter for every child.

Philanthropy experts called Bezos' approach direct and pragmatic, but said its success would depend largely on how the money was allocated and how willing the billionaire was to make changes along the way.

Bezos, now the world's richest person, asked Twitter followers a year ago for ideas about how he should shape his "philanthropy strategy".