September 26, 2023

The Queens County Citizen

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Jeff Bezos says he will give away most of his $124B fortune

Jeff Bezos says he will give away most of his $124B fortune

Amazon founder and multi-billionaire Jeff Bezos said in a CNN interview that aired Monday that he plans to donate the majority of his wealth to charity during his lifetime.

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“Do you plan to give away a large portion of your wealth during your lifetime?” When asked, the entrepreneur replied “yes”.

This is the first time that the 58-year-old businessman has publicly made such a commitment. Notably, he did not sign the “Donation Pledge” launched by Americans Warren Buffett and Bill Gates in 2010, which encourages billionaires to give more than half of their wealth to charities.

According to Bloomberg, Jeff Bezos currently has a net worth of $124 billion, making him the fourth richest person in the world.

It once topped the charts, but its fortunes, largely tied to Amazon, have plummeted over the past year as the company’s stock has plunged.

Jeff Bezos also owns the daily Washington Post, the space company Blue Origin and the Bezos Earth Fund, which he launched in 2020 with $10 billion dedicated to the planet.

The entrepreneur should ensure that his donations are used as efficiently as possible. “We’re building capacity” to do that, he said in an interview appearing alongside his partner, Lauren Sanchez.

Jeff Bezos’ ex-wife, Mackenzie Scott, whose fortune is estimated to be around $24 billion, has already pledged to donate at least half of her fortune to charity by signing a “Pledge of Donation” shortly after their 2019 divorce.

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She rocked the world of philanthropy by donating $6 billion to various organizations in early 2021, with no restrictions or requirements attached to her donations.