Jeff Bezos Says He Will Give Away Most of His Fortune

Read the article below.

Jeff Bezos, the founder of Amazon, declared that the bulk of his money will be donated while he is still alive. He is the most recent billionaire to make such a commitment. Bezos announced the news in a November 14 CNN interview with his girlfriend Lauren Sanchez, whose "real-time" net worth Forbes magazine pegs at around $124.1 billion. The billionaire said the couple was developing the "capacity" to do it but did not say how or to whom he would distribute the funds.

Bezos had previously been criticized for refusing to sign the Giving Pledge, a campaign started by Warren Buffet, Bill Gates, and Melinda French Gates to persuade billionaires to give the majority of their wealth away to charity. A formidable force in the world of philanthropy since signing that vow in 2019, his ex-wife McKenzie Scott has showered charities around the nation with unanticipated - and frequently secretive - donations. She has donated more than $12 billion over the last three years to historically Black colleges and universities, organizations that support women's rights, and other nonprofits.

Bezos, who got divorced from Scott in 2019, left his position as CEO of Amazon last year to focus more on philanthropy and other endeavors. Among other donations, he’s donated $10 billion to fight climate change as part of his Bezos Earth Fund project. According to The Chronicle of Philanthropy, he donated $510.7 million to charitable organizations last year. Bezos and Sanchez declared they will offer Dolly Parton, a celebrated philanthropist who contributed to the development of the Moderna vaccine for COVID-19, a $100 million contribution with no conditions attached. In 2021, Bezos gave a similar grant to CNN commentator Van Jones and chef José Andrés.