Specifically, the Day 1 Family Fund supports civil organizations and non-profit organizations that are providing accommodation and food for young couples without a home.
The Day 1 Academy Fund will open and operate a new network of full scholarships for young people in low-income and disadvantaged communities. We will establish an organization to directly operate these schools, Mr. Bezos revealed.
Bezos has an estimated net worth of 156 billion USD, mainly from his stake in the Amazon. From real estate to space travel, here are the ways Bezos spent his huge sums of money.
Despite donating such a large sum of money, Bezos has gotten richer this week. Amazon's stock price increased by 7 USD/share in the trading session on Thursday, reaching 1,952 USD/share, bringing Mr. Bezos's net asset value to nearly 158 billion USD, about 4 billion USD higher than at the end of last week. On September 13 alone, the technology billionaire "pocketed" about 500 million USD.
Charitable work by American billionaires is booming everywhere. In China and the Middle East, public charitable acts are less popular. Last week, Jack Ma, the founder of Alibaba, also announced that he was retiring and focusing more on charity.
