Jeff Bezos is making headlines.
The billionaire founder of Amazon (AMZN) – Get a free report seems to have a media plan that he has been executing perfectly for several weeks.
Last month, the tycoon warned of a deteriorating economy, advising businesses and consumers to prepare for tough days ahead. Interest rates are being raised aggressively in the face of inflation which, at its highest level in 40 years, threatens to plunge the economy into recession.
“Yes, the odds in this economy are telling you to batten down the hatches,” Bezos tweeted Oct. 18.
‘I do’
A few days later, Amazon confirmed that economic activity would slow down sharply in the coming months, and gave a disappointing forecast for the holiday season.
This disastrous announcement, as well as the company’s tougher austerity measures, had a strong impact on Amazon’s shares. This caused a decrease in the wealth of Bezos, whose fortunes depend a lot on his actions in the company. The billionaire is only the fourth richest man in the world, with an estimated fortune of $124 billion as of November 13, according to Bloomberg Billionaires Index.
For the past few days, Bezos has also been in the news as there are rumors that he could make an offer or the NFL Washington Commanders franchise, in partnership with billionaire rapper Jay Z.
The tech mogul has just taken back control of his news coverage by announcing he will award the Bezos Courage & Civility Award, which recognizes leaders who “pursue solutions with courage and civility,” to singer Dolly Parton . This award comes with $100 million which the recipient donates to charities of their choice.
“I think people who are able to help should put their money where their heart is. I’ll do my best to do good things with that money,” Parton said in a video of the ceremony.
Bezos launched this prize in 2021. The first recipients of this prize are activist Van Jones and humanitarian leader José Andres, who created World Central Kitchen, a non-profit organization that provides food in poor countries.
The billionaire saved the best for last. He has just pledged to give the majority of his great fortune during his lifetime, to fight against climate change and reduce inequalities in the world.
The announcement came during an interview with CNN when asked if he would give away most of his wealth during his lifetime, Bezos then replied, “yes, I do.”
Some details
He declined to specify how he will donate the money and what it will be spent on, saying “the hardest part is figuring out how to do it with leverage.”
He continued, “It’s not easy. Building Amazon hasn’t been easy. It’s taken a lot of hard work, a very smart group of teammates, hard-working teammates, and I find – and I think lauren [Sanchez, his partner] finds the same thing – that charity, philanthropy, is very similar.
“There’s a bunch of ways I think you could do inefficient things too,” the billionaire told CNN. “So you have to think about it carefully and you have to have brilliant people in the team.”
This is the first time Bezos has made such a promise. He has always been criticized in the past for not signing the Giving Pledge, which is an organization that encourages wealthy people to commit a large portion of their wealth over their lifetime. His ex-wife, MacKenzie Scott, who redefined philanthropy by giving directly to nonprofits, and billionaires Bill Gates and Warren Buffett signed the pledge.
Bezos has also been heavily criticized for spending his money on funding space travel, instead of solving problems on Earth.
The billionaire has already pledged to donate $10 billion to the Bezos Earth Fund, a foundation he launched in 2020 to fight climate change.
His new wish comes the same day that Amazon, of which he is now only the executive chairman, would announce massive job cuts.
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