Amazon CEO Jeff Bezos unveils $2 billion fund for charitable causes

Amazon founder and CEO Jeff Bezos says he will start a $2 billion fund to support numerous charitable causes.

The causes Bezos cited include helping homeless families and opening new preschools in low-income neighborhoods.

Bezos, who is worth $164 billion according to the Bloomberg Billionaires Index, says he’ll call it the Bezos Day One Fund.

An Amazon.com Inc. (NASDAQ: AMZN) spokeswoman released a statement to The Associated Press confirming that the $2 billion will all come from Bezos.

“Our lives are better than our great grandparents’ lives, and their lives were better than their great grandparents’ lives before them,” Bezos, 54, said. “If our own great grandchildren don’t have lives better than ours, something has gone very wrong.”

Bezos elaborated in a tweet:

Last year, Bezos used Twitter to crowdsource suggestions on philanthropic initiatives.

The sum is mostly derived from the about 16 percent stake in Amazon that he owns.

Read the full story from the Washington Business Journal.