Sunday 20 November 2022

Bezos to Give Away Fortune

Jeff Bezos and Lauren Sanchez
Amazon founder Jeff Bezos has said he plans to give away most of his $124bn (£107bn) fortune during his lifetime. The businessman told news network CNN he would donate his wealth to fighting climate change and reducing inequality. He has previously been criticised for not promising to dedicate his fortune to charity. Investor Warren Buffett, Microsoft founder Bill Gates and Mr Bezos's ex-wife MacKenzie Scott have all promised to give their money away.  Mr Bezos revealed his plans after donating $100m to the country music star and philanthropist Dolly Parton to use for charitable causes. The multi-billionaire previously pledged $10bn to the Bezos Earth Fund, which he launched in 2020 to help fight climate change. The move came after Mr Bezos and other entrepreneurs were criticised for spending vast amounts of money on trips into space instead of solving problems on Earth. Amazon had also been criticised in the past by its workers over its record on climate change. Mr Bezos became one of the richest people on the planet after Amazon, the internet retailer he founded in 1994, became a global phenomenon.