Amazon founder Jeff Bezos plans to give most of his £110bn fortune away | Business News
Jeff Bezos has revealed plans to give away most of his $124 billion (£110 billion) fortune during his lifetime.
The Amazon founder, 58, is the world’s second-richest person behind Elon Musk, Tesla boss and new owner of Twitter, according to Forbes.
This is the first time he has said that he plans to give away most of his money.
He Bezos was once criticized for not signing the Giving Pledge, a campaign founded by Warren Buffett and Bill Gates to encourage the super-rich to donate most of their wealth to charity.
Asked directly by CNN if he plans to give away most of his money, Mr. Bezos said: “Yes, I do.”
Mr Bezos told US television that he and his girlfriend, journalist-turned-philanthropist Lauren Sanchez, were “building up the ability to be able to give this money away”.
He said the money will be used to raise funds to tackle climate change and support those who can unite humanity.
It was announced a week before the start COP27 summit that his Bezos Earth Foundation has committed an additional $1 billion by 2030 to help protect carbon stocks and biodiversity – building on the $9 billion in funds already committed to the gas cause Queen.
Also last week, it was revealed that country star Dolly Parton received a $100 million (£85 million) prize from Mr. Bezos.
The Courage and Civilization Awards offer people the opportunity to donate cash to causes of their choice.
Parton himself, a longtime philanthropist, has founded several charities and donated $1 million to the development of a COVID vaccine during the pandemic.
Mr. Bezos has more time to devote to his passion after stepping down as Amazon’s chief executive last year.
He goes on to own about 10% of the shares of the e-commerce giant to the streaming.
His other business interests include ownership of the Washington Post and space travel company Blue Origin.