Amazon founder Jeff Bezos says he plans to give away most of his wealth to charity during his lifetime.
Asked in an interview with CNN on Monday whether he planned to donate most of his wealth during his lifetime, the entrepreneur answered “Yes”.
This is the first time the 58-year-old multi-billionaire has made such a public commitment. In particular, he has never signed the “Giving Pledge,” an initiative launched in 2010 by Americans Warren Buffett and Bill Gates that encourages billionaires to give more than half of their wealth to charity.
According to Bloomberg, Jeff Bezos is currently worth $124 billion, making him the fourth richest person in the world. He was once at the top of the rankings but his wealth, largely linked to Amazon, has fallen as the company’s stock has declined over the past year.
Making sure his donations are used efficiently
Jeff Bezos also owns the Washington Post newspaper, the Blue Origin space company and the Bezos Earth Fund, which he launched in 2020 with $10 billion.
The entrepreneur wants to ensure that his donations are used as efficiently as possible. “We’re building the capacity” to do that, he said in the interview, which featured him alongside his partner Lauren Sanchez.
Bezos and Sanchez have, for example, awarded a $100 million charity prize to country musician Dolly Parton.
Honoured for her charitable work, she will be able to donate the amount to an organisation of her choice. With the Dollywood Foundation, the singer supports financially vulnerable regions in the southern United States.