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Amazon CEO Jeff Bezos launches a $2 billion philanthropic fund

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Amazon CEO Jeff Bezos launches a $2 billion philanthropic fund

Amazon CEO Jeff Bezos launches a $2 billion philanthropic fund
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Rex Curry(Reuters)
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(Reuters) - Amazon.com Inc Chief Executive Officer Jeff Bezos on Thursday launched Bezos Day One Fund, a new philanthropic initiative, with an initial commitment of $2 billion (1.52 billion pounds) to help homeless families and create preschools for low-income communities.

The fund will be split between Day 1 Families Fund and Day 1 Academies Fund.

"The Day 1 Families Fund will issue annual leadership awards to organizations and civic groups doing compassionate, needle-moving work to provide shelter and hunger support to address the immediate needs of young families," Bezos said in a tweet https://twitter.com/JeffBezos/status/1040253796293795842.

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

Bezos, with an estimated fortune of more than $160 billion, is currently the world's wealthiest man, according to Forbes.

(Reporting by Munsif Vengattil in Bengaluru; Editing by Shailesh Kuber)

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