Jeff Bezos: Amazon founder pledges to give away most of his wealth

A majority of Jeff Bezos‘ $124 billion (£107 billion) fortune will be donated throughout his lifetime, according to the creator of Amazon.

The businessman told CNN that he would contribute his riches to the battle against inequality and climate change.

He has received criticism in the past for not making a promise to donate his riches to good causes.

The founder of Microsoft, Bill Gates, and Mr. Bezos’ ex-wife, MacKenzie Scott, have all pledged to donate their wealth.

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After giving $100 million to philanthropist Dolly Parton for use in charity endeavors, Mr. Bezos announced his plans.

When asked by CNN if he planned to donate the majority of his wealth throughout his lifetime, Mr. Bezos responded, “Yeah, I do.”

The tricky part is figuring out how to do it in a levered fashion, he said, declining to elaborate on how he would spend or donate the money.

Previous charitable giving

Prior to 2020, the multibillionaire contributed $10 billion to the Bezos Earth Fund, which he established to aid in the battle against climate change.

The decision was made in response to Mr. Bezos and other business people receiving criticism for devoting a sizable portion of their income to space travel rather than addressing issues on Earth. Amazon’s workforce had previously criticized the company for its actions towards climate change.

After founding the online shop Amazon in 1994, Mr. Bezos rose to become one of the wealthiest persons on the planet.

In 2021, he resigned as CEO of Amazon, but he is still the board chairman. Additionally, he is the owner of Blue Origin, a space tourism business, and the Washington Post.

The Bezos Courage & Decency Award, which honors leaders who “pursue solutions with courage and civility,” was presented to Dolly Parton on Sunday by Mr. Bezos.

Ms. Parton will be able to donate the money to the charities of her choice. She has supported causes like promoting children’s literacy.

Dolly is the perfect recipient for this prize, and we are confident that she will use it to accomplish great things, said Ms. Sanchez.

Ms. Parton responded in a ceremony video that was online: “Wow! Did you say $100m?”

Added her: “I believe that those who can contribute financially ought to do so. I’ll try my best to use this money for good.”

With prizes going to chef and humanitarian Jose Andres and activist Van Jones, who founded World Central Kitchen, which supplies food in disaster-stricken nations, Mr. Bezos inaugurated the honor in 2021.

This month, Ms. Parton—a musician, actress, businesswoman, and philanthropist—was inducted into the Rock & Roll Hall of Fame.

She has been a high-profile supporter of charities and founded the Dollywood Foundation, which has given books to children around the world.