Jeff Bezos, Founder Of Amazon, Pledged To Give Away Majority Of His Wealth

A majority of Jeff Bezos' $124 billion (£107 billion) wealth will be given throughout his lifetime, according to the founder of Amazon. The businessman told a news agency that he would contribute his wealth to the battle against inequality and climate change.

He has faced criticism in the past for not making a promise to distribute his wealth to charities. The founder of Microsoft, Bill Gates, and Mr. Bezos' ex-wife, MacKenzie Scott, have all pledged to donate their wealth.

After giving $100 million to country music star and philanthropist Dolly Parton for use in charity activities, Mr. Bezos announced his plans. "The hard part is figuring out how to do it in a levered way," he said, declining to elaborate on how he would spend or donate the money.

Prior to 2020, the multibillionaire contributed $10 billion to the Bezos Earth Fund, which he established to help in the battle against climate change. The decision was made in response to Mr. Bezos and other businesspeople receiving criticism for devoting a sizable portion of their income to space travel rather than addressing issues on Earth. Amazon's workforce had previously criticized the company for its actions toward climate change.

After founding the online shop Amazon in 1994, Mr. Bezos rose to become one of the wealthiest persons on the planet. He retired from his position as CEO of Amazon in 2021. Additionally, he is the owner of Blue Origin, a space tourism business, and the Washington Post.

The Bezos Courage & Civility Award, which honors leaders who "pursue solutions with courage and civility," was presented to Dolly Parton on Sunday by Mr. Bezos. Ms. Parton will be able to donate the money to the charity of her choice. She has supported causes including promoting children's literacy.