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

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Bezos, who Forbes lists as the richest person in the world with a net worth over $100 billion, went on to say that the overall health of the media in the US would be "fine", and would survive Trump's consistent criticism and cries of "fake news". The first one, "The Day 1 Families Fund" will provide grants to organizations and groups that help accommodate homeless families, while "The Day 1 Academies Fund" will run a network of Montessori-based nurseries in impoverished communities.

The second will launch a network of "high-quality, full-scholarship" preschools in low-income communities, which a Day One Fund organization will directly operate.

Amazon chief executive Jeff Bezos said on Thursday the company would announce a decision on where it will build a second headquarters before the end of the year, and also said that President Donald Trump is wrong to "attack the media". "The secret sauce of Amazon - the number one thing that has made us successful has by far is obsessive, compulsive focus on the customer".

Amazon founder Jeff Bezos plans to open and fund nursery schools in low income areas, promising that poor children would be treated like Amazon customers.

Last year, Bezos took to Twitter to request ideas for how he use his vast fortune for good. The Washington Post's top editor has said that Bezos has no involvement in its news coverage.

"All big institutions of any kind are going to be and should be examined, scrutinized and inspected", he said.

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Employees at Amazon followed Jeff Bezos example and also started 'PJammin'.

The private non-profit foundation in its 2016 tax filing reported almost $46 million USA in assets, and giving away $30 million United States in grants support its missions in early education, K-12 schools reform and youth leadership development and scholarships.

Zuckerberg, 34, and his wife Priscilla Chan said in 2015 that they planned to give away 99 per cent of their Facebook stock.

He has also been criticized for not contributing his fortune to philanthropy like other billionaires have, including Microsoft founder Bill Gates and Berkshire Hathaway's Warren Buffett.

Launched in 1994 as an online bookseller, Amazon has become a retail powerhouse operating globally, and has expanded into streaming video, music, cloud computing and other segments, and past year acquired the Whole Foods grocery chain.

In 2016, Amazon renovated a vacant hotel on land designated for its new headquarters so it could be used temporarily by the non-profit Mary's Place to shelter 200 homeless families.

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