$185b man opens his wallet
Jeff Bezos, the world’s richest man, has made the first donations as part of his pledge to help homeless families, making US$97.5 million ($143m) in grants to two dozen US nonprofit groups.
The awards are the first distribution from the US$2 billion Day One Fund, which the Amazon.com chief executive and his wife, MacKenzie, launched in September. It aims to provide aid for the homeless and to fund a network of nonprofit preschools.
The 24 recipient organisations range from the Catholic Charities Archdiocese to the Salvation Army and local family and housing services. Fifteen of the charities got US$5m gifts and the remainder received $2.5 million donations.
The announcement came shortly after Amazon revealed it will open huge new offices in New York and Arlington, Virginia, sparking a backlash over whether the arrival of the e-commerce giant will displace local residents by driving up housing costs. One group in New York and two in Washington were among those receiving the grants from the Day One Fund.
Bezos, Amazon’s founder, said the fund’s goal was to “shine a light and support the organisations that are doing compassionate, needle-moving work to provide shelter for young families in communities across the country.”
The recipient charities offer emergency
In this political climate, it was nice to know somebody cared. Donation recipient Mahnaz Eshetu
shelter “for families to get on their feet” and provide access to permanent housing and support services, Bezos said in a blog post.
“We hope these grants provide the additional resources these leaders and their organisations need to expand the scope and impact of their efforts,” Bezos wrote.
With a personal fortune of US$126b ($185b), Bezos had been largely invisible in the world of philanthropy before launching the fund. Last year, Bezos solicited advice from the public via Twitter, asking how he could best use his wealth to help people “right now”. He said he was interested in projects that address urgent need but also produce lasting impact.
The recipients of the awards seemed grateful for the gift. When Susan Neth found out her organisation, FrontLine Service, was being awarded US$2.5m, she said she was in shock. “I just wanted to shout to the skies,” Neth said. “This is a tremendous celebration for us and our entire community.”
Homelessness in Cleveland has been growing over the past few years and FrontLine Service was focused on supporting at-risk families with children under the age of 5, Neth said. “This is going to take us much further than where we are right now,” she said.
Bezos personally emailed Mahnaz Eshetu, the executive director of Seattle’s Refugee Women’s Alliance, to say he was happy to help the organisation “move its mission forward”, she said.
Eshetu said she first found out the alliance would receive the US$2.5m donation last week. “I was thrilled and excited,” she said. “In this political climate, it was nice to know somebody cared.”
Bezos has yet to discuss details on the fund’s pre-school initiative, but the website suggests an announcement could be forthcoming: “Stay tuned for updates”.