Jeff Bezos is donating money to fix a problem his company perpetuates

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Jeff Bezos, Chairman and CEO of Amazon, speaks at the George W. Bush Presidential Center's Forum on Leadership in Dallas, Texas, US, April 20, 2018. The wealth that Bezos has amassed hasn't come without controversy, as many critics point to poor working conditions at his facilities while others say he doesn't do enough for the public good.

On Twitter, he posted a screenshot of an announcement pledging to donate $2 billion to fund "existing non-profits that help homeless families, and [create] a network of new, non-profit, tier-one preschools in low-income communities".

The Day 1 Families Fund will make annual awards to organizations "doing compassionate, needle moving work to provide shelter and hunger support to address the immediate needs of young families", while the Day 1 Academies Fund will start and operate a network of "full-scholarship, Montessori-inspired preschools in underserved communities", Bezos said.

"If our own great grandchildren don't have lives better than ours, something has gone very wrong", Bezos said in a tweet on Thursday.

Amazon founder Jeff Bezos plans to open and fund nursery schools in low income areas, promising that poor children would be treated like Amazon customers. "Most important of those will be genuine, intense customer obsession".

Bezos solicited ideas on Twitter past year for ways to donate some of his wealth.

Helping the homeless has also been a focus for Amazon.

Insanely rich human being Jeff Bezos announced today his intention to do something he rarely ever does: philanthropy. He wrote that he wanted to help "people in the here and now - short term - at the intersection of urgent need and lasting impact".

"It's unsafe to demonize the media", Bezos said.

Bezos hasn't said how much he'll be contributing to the fund in coming years.

At the Economic Club discussion Thursday night, in response to a question from moderator David Rubenstein about President Trump's critical statements about The Post, Bezos said public officials shouldn't lash out at the news media. We're going to be obsessively, compulsively focused on the child.

He added that "we live in a society where it's not just the laws of the land that protect us.it's also the social norms that protect us".

But he paraphrased Washington Post editor Martin Baron as saying that "the adminstration may be at war with us, but we are not at war with the administration".

With a personal fortune of US$163.8 billion, according to the Bloomberg Billionaires Index, the Amazon chief executive officer had been largely invisible in the world of philanthropy.

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