MacKenzie Bezos agrees to give half of his $ 36 billion of fortune to charity - HailNewsUp.com: provides the latest news from India and the world

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Tuesday, May 28, 2019

MacKenzie Bezos agrees to give half of his $ 36 billion of fortune to charity

MacKenzie Bezos agrees to give half of his $ 36 billion of fortune to charity
MacKenzie Bezos has pledged to give away at least half of his estimated fortune of $ 36 billion to charity, joining the intention of more than 200 megadonors to use their billions to "help solve the most pressing problems of the society "and promote a culture of philanthropy.

Bezos, a novelist and one of Amazon's original forces, announced that she joined Giving Pledge, a global initiative whose list includes Bill Gates, Warren Buffett, Mark Zuckerberg, Michael Bloomberg, and Robert F. Smith. The move comes just a few months after she finalized her divorce from Amazon founder and CEO Jeff Bezos.

"Each one of us comes with the gifts we have to offer through an infinite series of influences and fortunate ones that we can never understand, in addition to any of the assets that they have given me, I have a disproportionate amount of money to share." She wrote in a letter dated Tuesday. "My approach to philanthropy will continue to be reflective, it will take time, effort and care, but I will not wait, I will continue until the safe is empty."

MacKenzie Bezos, who has written two novels and is an American Book Award winner, did not specify how she would distribute the $ 18 billion allocated through the Grant Commitment. Her philanthropy to date has focused on marriage equality, transitional housing for homeless families and college scholarships for undocumented immigrants brought to the US. as minors. In 2013, she founded Bystander Revolution, an anti-bullying organization, of which she is executive director.

She also worked at Amazon, where she was an accountant and negotiated contracts, in the early days, long before she became the $ 905 billion retail giant that she is today. Unlike her ex-husband, MacKenzie Bezos has maintained a relatively quiet profile and has not had a public role on Amazon in years.

The couple announced their separation in January after 25 years of marriage and four children. Shortly thereafter, Jeff Bezos' relationship with the former news anchor became public, sparking headlines and a public battle between the tycoon and the National Enquirer and its parent company, American Media Inc.

The couple finalized their divorce in April. Under the terms of their agreement, I have retained 75 percent of the shares and the voting power of the couple over their combined shares. It was awarded approximately 4 percent of the company.

Jeff Bezos, the richest man in the world with an estimated fortune of $ 100 billion, also received all of the couple's joint stakes in The Washington Post and the space flight company, Blue Origin.

Jeff Bezos has not joined the promise to give. But last year, I spent $ 2 billion to help homeless families and launch a network of preschools. The commitment made him the country's largest donor in 2018. In September of that year, he and MacKenzie Bezos had awarded $ 10 million to the super PAC with honor centered on veterans, marking their first major political adventure.

Still, the Amazon CEO has been criticized for not doing more, especially when compared to Gates, Buffett or Zuckerberg, who said that and his wife, Priscilla Chan, hopes to donate 99 percent of their Facebook shares to such causes like the elimination of "all". disease in the lives of our children. "

After the announcement of Giving Pledge, Jeff Bezos tweeted that his ex-wife "is going to be amazing, reflective and effective in philanthropy, and I'm proud of her."

Buffett and the Gates launched the Delivery Commitment in 2010 after having "conversations with philanthropists from around the world about how they could collectively establish a new standard of generosity among the healthiest," according to the Commitment website. Donors have contributed to a variety of causes, including aid to refugees, disaster relief, education, women's empowerment, medical research, and environmental sustainability. The public face of the Promise is intended to attract more people to philanthropy and make signatories more charitable from the start.

The 19 donors of this year's Promise include WhatsApp co-founder Brian Acton and Brian Armstrong, CEO and co-founder of the cryptocurrency company Coinbase. The list now includes 204 donors from 23 countries committed to giving half of their wealth to charity during their lives or in their wills.