Jeff Bezos Announces $123 Million In Donations To Combat Homelessness

It looks as though Jeff Bezos is following through on his promise to give away most of his fortune in his lifetime...

The Amazon founder and billionaire announced last week on Instagram that he recently awarded 40 grants as part of his Bezos Day 1 Families Fund initiative, which will go to fight homelessness. 

They make up a portion of a $2 billion commitment Bezos has made to fight homelessness, according to CNN. In an exclusive interview with the network, Bezos had previously said he "plans to donate the majority of his $124 billion net worth during his lifetime". 

“With these funds, the organizations will continue their compassionate, needle-moving work to help families move from unsheltered homelessness and shelters to permanent housing with the services they require to achieve stability," a statement from Bezos said. 

Jeff Bezos Announces $123 Million In Donations To Combat Homelessness

The causes Bezos will be donating to in the future, according to the report, include "fighting climate change and supporting people who can unify humanity in the face of deep social and political divisions". 

Bezos says that giving away his wealth is a question of how to do it in a "levered way". He told CNN: “It’s not easy. Building Amazon was not easy. It took a lot of hard work, a bunch of very smart teammates, hard-working teammates, and I’m finding — and I think Lauren is finding the same thing — that charity, philanthropy, is very similar."

He continued: “There are a bunch of ways that I think you could do ineffective things, too. So you have to think about it carefully and you have to have brilliant people on the team.”

Several weeks ago Bezos also made a $100 million grant to Dolly Parton's charity to use towards her philanthropic efforts. Bezos' ex-wife Mackenzie Scott also announced that she would be donating another $2 billion to charity after Bezos' interview with CNN. She has given away almost $4 billion to 465 organizations, CNN wrote. 

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