Jeff Bezos Promises To Give Away Most Of His Fortune To Charity
Amazon founder Jeff Bezos, the fourth richest person in the world, intends to give away most of his fortune during his lifetime.
In an interview with CNN’s Chloe Melas on Saturday at Bezo’s mansion in Washington, DC, speaking alongside his girlfriend, Lauren Sanchez, he said the bulk of his fortune would go to fighting climate change and unifying humanity.
Melas asked if he intends to donate most of his wealth within his lifetime, and Bezos replied: “Yeah, I do.”
Exclusive: Jeff Bezos tells CNN that he’ll give away the majority of his $124 billion net worth during his lifetime, the first time he’s made such a promise. https://t.co/br4nQKVR3n pic.twitter.com/puR4MFOAAo
— CNN International (@cnni) November 14, 2022
“But the couple’s biggest challenge may be figuring out how to distribute Bezos’ vast fortune. Bezos declined to identify a specific percentage or to provide concrete details on where it would likely be spent,” CNN said.
Maybe Bezos wouldn’t commit to a specific figure because, according to Bloomberg Billionaires Index, his net worth has collapsed by 25.6% year-to-date due to a 40% plunge in Amazon shares this year. As of Friday, Bezos is worth $123.9 billion.
Bezos’ wealth is mostly tied up in Amazon stock.
The 20-minute interview covered many topics, from Bezos’ views on politics to economic turmoil to his space venture where Sanchez plans to visit low-Earth orbit.
Bezos has committed $10 billion over the decade, or about 8% of his current net worth, to the Bezos Earth Fund, which Sanchez co-chairs.
“The hard part is figuring out how to do it in a levered way,” he said, implying that even as he gives away his billions, he is still looking to maximize his return. “It’s not easy. Building Amazon was not easy. It took a lot of hard work, a bunch of very smart teammates, hard-working teammates, and I’m finding — and I think Lauren is finding the same thing — that charity, philanthropy, is very similar.”
“There are a bunch of ways that I think you could do ineffective things, too,” he added. “So you have to think about it carefully and you have to have brilliant people on the team.”
The latest recipient of the billionaire’s money via Bezos Courage and Civility Award, an annual award distributed by Bezos, was country music legend Dolly Parton, who received $100 to donate as she pleases.
Oh… and there’s this.
Jeff Bezos Says He Will Give Most of His Money to Charity: CNN
when did he open a crypto exchange?
— zerohedge (@zerohedge) November 14, 2022
So is the giving all about saving the planet and helping humanity, or is it just a giant tax shield?
Mon, 11/14/2022 – 15:45