Jeff Bezos launches USD 2 billion fund

Jeff Bezos is launching a USD 2 billion fund to help homeless families and build preschools.

Jeff Bezos twitted, referring to his wife. "MacKenzie and I share a belief in the potential for hard work from anyone to serve others".

"If our own great grandchildren don't have lives better than ours, something has gone very wrong", he added.

With a net worth of at least $150 billion, Bezos the CEO of Amazon, founder of rocket company Blue Origin, and owner of the Washington Post is the wealthiest man in history.

His "Day One Fund" will focus on two areas  funding existing nonprofits that help homeless families, and creating new, non-profit preschools in low-income communities.

In 2016, Bezos said in an interview that finishing building Blue Origin was more important to him than philanthropy. But in 2017, Bezos asked on Twitter for ideas about where he should start donating his money.

Bezos has faced pressure to be more charitable with his wealth as billionaires like Bill Gates and Warren Buffet have massive philanthropic initiatives.

"This tweet is a request for ideas," he wrote in a tweet. "I'm thinking of a philanthropy strategy that is the opposite of how I mostly spend my time — working on the long term."

This month, Bezos and his wife donated $10 million to a organization that works to elect military veterans to office.

(Featured image:Bloomberg)