Jeff Bezos To Contribute $100 Million For Addressing Homelessness In USJeff Bezos To Contribute $100 Million For Addressing Homelessness In US

Jeff Bezos To Contribute $100 Million For Addressing Homelessness In US

Business Headlines

The world’s wealthiest man and Amazon’s CEO, Jeff Bezos, is donating nearly $100 Million to deal with homelessness in the U.S. This is known to be his biggest openly-announced charitable donation till present.

Lately, the Amazon founder outlined his plans to contribute $97.5 Million to two dozen nonprofit organizations around the U.S., which are offering services to the homeless. This is the initial round of his donation that Bezos will carry out as a part of his “Day One Fund,” which was announced in September. During that announcement, he pledged $2 Billion to aid homeless families and build Montessori-inspired preschools. The nonprofit organizations that will get funding are located in places such as Washington, D.C., San Francisco, and Omaha, where these organizations operate emergency, short-term shelters, and also aid families to move into permanent housing. Every organization will get $2.5 Million or $5 Million from the “Day 1 Families Fund.” According to a statement, the funding will be utilized to help the nonprofits for expanding the scope and impacting their efforts. Bezos tweeted: “Congrats to the recipients—we know you’ll spend the money wisely and with heart.” One recipient—Urban Resource Institute, New York—plans to use its $5 Million grant to support the job training and placement it can give to homeless families, aiming at jobs that earn over minimum wages or are highly in demand, in domains such as coding.

Recently, Amazon was also in news for auctioning Disney’s 22 regional sports networks, counting New York-based YES Network. Sources familiar with the deal reported to CNBC that Amazon is auctioning for all 22 regional sports TV networks of Disney, which was acquired from 21st Century Fox. The e-commerce giant is bidding for the YES Network along with Yankees and an anonymous sovereign wealth fund. YES Network might be sold independently from the other networks.