Jeff Bezos, Amazon founder, launches $2 billion charitable fund to fight poverty

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Naturally, it was easy for Sawant and others to target Amazon, but 500 businesses would have been subject to the tax, which is about 3 percent of the city's companies.

Amazon, meanwhile, has been criticized for years for largely taking a pass on the formal donation programs of corporate peers.

The first will fund existing nonprofits and issue annual awards to organisations doing "compassionate, needle-moving work" to shelter and support the immediate needs of young families.

The Day 1 Academies Fund will launch and operate a network of high-quality, full-scholarship, Montessori-inspired preschools in underserved communities. 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.

Some resorted to the same argument as US President Donald Trump, who has attacked Amazon for not paying enough taxes and using US postal office as its "delivery boy". Most important among those will be genuine, intense customer obsession.

Jeff Bezos, founder of Amazon and owner of the Washington Post newspaper, warned Thursday that President Donald Trump's attacks on media are unsafe for the country.

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The Amazon founder, the world's wealthiest person, offered detail on his philanthropic goals, announcing the Bezos Day One Fund, which will begin with an initial $2 billion.

According to the research firm eMarketer, Amazon's e-commerce revenue will grow more than 28 percent this year to reach $394 billion, and will account for 49 percent of USA online retail sales and almost five percent of all retail spending.

Bezos asked for suggestions for philanthropic focuses in a tweet previous year. In the summer of 2017, Bezos tweeted a request from the masses for philanthropic ideas "at the intersection of urgent need and lasting impact". The missive set off a frenzy of responses from every corner of the world, including pleas to support health care, loan forgiveness and even offbeat appeals to back a leather fetish museum in Chicago.

In 2016, Bezos was asked if he planned to pursue philanthropy like Gates has.

An Amazon spokesman didn't have details on who would run Bezos' new initiative, or where the group would be based. "It was only a matter of time before Bezos would join this new era of big philanthropy".

"The media", Bezos added, "is going to be fine".

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