Jeff Bezos Announces $123 Million in Grants to Fight Homelessness The donation is part of the billionaire's Bezos Day 1 Families Fund initiative.

By Madeline Garfinkle

Pool | Getty Images

Amazon founder Jeff Bezos announced on Tuesday that he will donate $123 million to combat homelessness in America.

The donation will take the form of 40 grants, which are part of Bezos' commitment to the Bezos Day 1 Families Fund. Bezos intends to donate $2 billion to organizations that assist those facing homelessness and provide systems for stability in low-income communities through the fund. The Day 1 Fund was founded in 2018 and has donated more than $500 million in grants since its inception.

But Bezos has even broader intentions for his wealth beyond the fund. In an interview with CNN, the billionaire shared that he intends to give away a majority of his $124 billion net worth during his lifetime, focusing on climate change and those facing social and political divides.

Related: Jeff Bezos Plans to Give Away the Bulk of His Fortune, New Grant of $100 Million to Dolly Parton

The interview also addressed how Bezos was formerly criticized for not signing the Giving Pledge, an agreement signed by the world's wealthiest people to donate more than half of their fortunes to charity. However, Bezos told CNN that it's less a question of if he will give his money away and more of a question of how.

"The hard part is figuring out how to do it in a levered way," he told the outlet. "It's not easy. Building Amazon was not easy. It took a lot of hard work, a bunch of very smart teammates, hard-working teammates, and I'm finding — and I think Lauren is finding the same thing — that charity, philanthropy, is very similar."

Bezos' most recent Day 1 Fund grants are the largest sum donated thus far, with the previous four years averaging about $99 million in donations.

Related: I Analyzed All 48,000 Words of Jeff Bezos' Amazon Shareholder Letters. The Visionary Billionaire Does 8 Impressive Things That Prove He's a Master of Written Communication.

Madeline Garfinkle

Entrepreneur Staff

News Writer

Madeline Garfinkle is a News Writer at Entrepreneur.com. She is a graduate from Syracuse University, and received an MFA from Columbia University. 

Editor's Pick

Related Topics

Starting a Business

Its First Year, This Startup Struggled to Get 75 Clients. Five Years Later, They Have 18,000. Here's How They Did It.

Financial planning startup Facet knew they were targeting a huge untapped market. But getting clients wasn't as easy as they hoped.

Buying / Investing in Business

Get Better at Real Estate Investing with Mashvisor — on Sale for Just $39.99

A lifetime subscription regularly costs $899.

Productivity

There's a Scientific Reason You Can't Stop Thinking About Unfinished Tasks. Learning to Harness That Energy Will Make You More Productive.

Why unfinished work captures our attention more than finished tasks, and how to leverage that psychological tendency for both personal and professional betterment.

Leadership

Master Time Management by Using These Essential Tips for Self-Employed Entrepreneurs

These key time management tips have not only helped me stay afloat amidst the chaos but have bolstered my business and reputation.

Growing a Business

5 Surefire Ways to Grow Your Remote Business

Many people dream of having their own business, and today, that dream often extends to doing so remotely. But what does it take to make that dream a reality?

Franchise

Franchise Legalese Defined — A Deep Dive Into Franchising Definitions

Before you can decide if you should franchise, find out exactly what you're getting yourself into.