Amazon CEO Jeff Bezos and the world’s richest man says he’s launching a $10 billion Bezos Earth Fund. Bezos who is worth an estimated $131 billion, unveiled this philanthropic initiative in an Instagram post.

The Bezos Earth Fund will also issue grants aimed at addressing climate change. This comes less than a month after hundreds of Amazon employees expressed criticism at what they perceive as the company’s weak commitment to tackling the issue.

In the post, he wrote:

“Climate change is the biggest threat to our planet. I want to work alongside others both to amplify known ways and to explore new ways of fighting the devastating impact of climate change on this planet we all share.”

 

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Today, I’m thrilled to announce I am launching the Bezos Earth Fund.⁣⁣⁣ ⁣⁣⁣ Climate change is the biggest threat to our planet. I want to work alongside others both to amplify known ways and to explore new ways of fighting the devastating impact of climate change on this planet we all share. This global initiative will fund scientists, activists, NGOs — any effort that offers a real possibility to help preserve and protect the natural world. We can save Earth. It’s going to take collective action from big companies, small companies, nation states, global organizations, and individuals. ⁣⁣⁣ ⁣⁣⁣ I’m committing $10 billion to start and will begin issuing grants this summer. Earth is the one thing we all have in common — let’s protect it, together.⁣⁣⁣ ⁣⁣⁣ – Jeff

A post shared by Jeff Bezos (@jeffbezos) on Feb 17, 2020 at 10:00am PST

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The $10 billion pledge, however, represents the second-largest charitable commitment by an individual in the 21st century. The biggest one was in 2006. Billionaire, Warren Buffett had pledged 85% of his Berkshire Hathaway stock in a series of annual contributions to charities. That pledge has seen an estimated $28 billion donated to the Gates Foundation.

Jeff Bezos had made headlines just before Valentine’s day in 2020 after he purchased an estate in California for an estimated $165 million. Bezos had set a new high for a home sold in California.

He had paid the whopping amount for a Beverly Hills estate. David Geffen, a media mogul and co-founder of DreamWorks, had sold the estate to Amazon’s boss.

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