Published: Fri, September 14, 2018
Money | By Bruce West

Jeff Bezos, Amazon founder, launches $2 billion charitable fund to fight poverty

Jeff Bezos, Amazon founder, launches $2 billion charitable fund to fight poverty

Mr Jeff Bezos, founder of Amazon and owner of the Washington Post newspaper, warned on Thursday (Sept 13) that President Donald Trump's attacks on the media are unsafe for the country. We'll use the same set of principles that have driven Amazon.

His comments came as USA regulators opened hearings on whether to revamp anti-trust enforcement to consider the dominance of digital giants such as Google, Facebook and Amazon.

Amazon has come under heavy criticism for how workers are treated at its distribution centres and its tax contributions.

Amazon CEO Jeff Bezos, who typically tries to stay out of the political fray, has mounted a vigorous defence of press freedom, saying President Donald Trump should be "glad" to face media scrutiny. "It's not personal. It's kind of what we as a society want to have happen".

Some analysts have suggested Amazon could face antitrust scrutiny over its growing power in the economy, and President Donald Trump has accused the company of taking advantage of the Postal Service, despite studies suggesting the internet giant's deal has been beneficial to the U.S. government postal operator. Most important among those will be genuine, intense customer obsession.

Bezos hasn't said how much he'll be contributing to the fund in coming years. "Nobody in their garage is going to build an all-fiber fuel-efficient Boeing 787".

Mr Bezos solicited ideas on Twitter previous year for ways to donate some of his wealth. "But I will say this: I do think it's a mistake for any elected official to attack media and journalists".

And taking a look at social media, it's not Bezos alone.

Early in the interview, the crowd booed when Bezos refused to reveal the victor of HQ2, the company's second headquarters that Amazon said will bring a $5 billion investment and 50,000 jobs. "I don't feel the need to defend Amazon". The Seattle-based Bill and Melinda Gates Foundation as the world's largest private nonprofit foundation has an endowment worth over $40 billion USA and has long supported homelessness services for families in the city. "So, we've made tremendous progress. and we will get there". Some activists and politicians have partly blamed the city's problems on Amazon.

Mr Bezos, whose Amazon fortune has made him the world's richest person, added that he has had "a couple of conversations" with Mr Trump, but declined to say what was discussed.

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