Amazon's Bezos Unveils $2 Billion Philanthropic Fund

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Amazon founder Jeff Bezos announced he was launching a philanthropic fund with a $2 billion initial commitment to help homeless families and launch preschools in low-income communities.

The world's richest individual made the announcement on Twitter a year after asking for ideas on how he could use his personal fortune -- now estimated at some $163 billion -- for charitable efforts.

The "Bezos Day One Fund" will contribute to "existing nonprofits that help homeless families" and also fund "a network of new, nonprofit, tier-one preschools in low-income communities," he wrote.