Jeff Bezos to give away most of his $124 billion wealth for climate change, charitable cause

Jeff Bezos, the creator of Amazon, stated that he intends to donate the vast bulk of his $124 billion fortune throughout his lifetime. According to Jeff Bezos, he will use the majority of his money to fight climate change.

The majority of Jeff Bezos’ income will go to organisations that combat climate change as well as social and political injustice. Bezos is currently the fourth richest person in the world, according to Forbes, with a net worth of $124 billion.

In an exclusive interview with CNN, Bezos and his partner, journalist-turned-philanthropist Lauren Sánchez, stated that they intend to give away the majority of his wealth while he is still alive and that they are currently “building the capacity to be able to give away this money.” Their biggest problem at the moment is deciding how to distribute his immense wealth.

He claimed that coming up with a levered solution is the challenging part. He also implied that, despite his plans to donate the majority of his riches, he is still looking for ways to increase business profits. He would not, however, specify where or how much of his money will be spent.

Bezos has donated $10 billion, or about 8% of his current net worth, to the Bezos Earth Fund over a ten-year period, which Sánchez co-chairs. One of its top priorities, according to the CNN report, is to reduce the carbon footprint of building-grade cement and steel, to pressure financial regulators to take climate-related risks into account, to advance data and mapping technologies to monitor carbon emissions, and to build substantial, naturally occurring carbon sinks.

Bezos, who resigned from his position as CEO of Amazon in July 2021, controls a little less than 10% of the business’s shares along with the Washington Post and the aerospace company Blue Origin. He originally announced the Bezos Earth Fund in 2020, which he formed to give USD 10 billion over ten years to researchers, campaigners, and non-governmental organisations “to help maintain and safeguard the natural world.”