Jeff Bezos is donating money to fix a problem his company perpetuates

Amazon CEO Jeff Bezos

Amazon CEO Jeff Bezos

The Seattle-based Bill and Melinda Gates Foundation as the world's largest private nonprofit foundation has an endowment worth over $40 billion United States and has long supported homelessness services for families in the city. The fund will be split between Day 1 Families Fund and Day 1 Academies Fund.

The fund will also seek to launch and operate "a network of high-quality, full-scholarship, Montessori-inspired preschools in underserved communities", he wrote.

"We will build an organization to directly operate these preschools", Bezos said. "Most important among those will be genuine, intense customer obsession", he tweeted. After discussing the success of the Washington Post, which Bezos bought in 2013, Rubinstein asked how Bezos responds to criticism - some of which comes from Trump's Twitter feed - of Amazon and the Post.

More than a year ago, Bezos posted to Twitter a request for suggestions on philanthropic initiatives created to make a difference in the short term.

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"Never have I been more comfortable at an Amazon board meeting!" he wrote on Instagram.

Bezos held true to that word, even jokingly pushing back on the smattering of boos that came from the D.C. crowd when he declined to reveal the victor of the HQ2 contest. Bezos said it was unsurprising and even normal to face questions when a company like Amazon becomes so big.

As with most investment decisions by the Amazon founder, this one was likely grounded in data and science.

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

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"We're hoping that local, state and federal governments see this as a call to invest more in preschool and childcare", he said.

"We live in an age in which the winners have done incredibly well and perhaps the majority of working Americans haven't", said Anand Giridharadas, author of "Winners Take All: The Elite Charade of Changing the World".

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.

Michael Bloomberg, the owner of Bloomberg LP, parent of Bloomberg News, also is a signatory.

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The need for a second headquarters comes as Amazon recently became the second US company after Apple Inc.to cross the $1 trillion mark. It previously helped the nonprofit temporarily house 200 homeless people.

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