Read Jeff Bezos' full statement about his $2 billion Day One fund

CEO Jeff Bezos had previously been largely invisible in the world of philanthropy

- Amazon founder and CEO Jeff Bezos was in the District Thursday night as he was the featured guest at the Economic Club of Washington D.C.'s Milestone Celebration Dinner at the Washington Hilton.

"The Day 1 Families Fund will issue annual leadership awards to organizations and civic groups doing compassionate, needle-moving work to provide shelter and hunger support to address the immediate needs of young families", Mr Bezos said in a tweet. "If our own great grandchildren don't have lives better than ours, something has gone very wrong".

Earlier this month, U.S. Senator Bernie Sanders, a self-described democratic socialist, proposed a bill in Congress called the "Stop BEZOS" Act, which would make large corporations pay workers more or pay for public assistance programs like Medicaid. The Amazon boss and his wife, who have four children, both serve on the foundation's board directors. "Most important of those will be genuine, intense customer obsession".

The "Day 1 Academies Fund" will start an organization to operate a new network of full-scholarship pre-schools for low-income communities.

Last year, Bezos took to Twitter to request ideas for how he use his vast fortune for good. At the time, he said that he was interested in funding projects to help people at the intersection of urgent need and lasting impact.

Bezos said he plans to give away "a lot of money" to nonprofits but will also invest in Blue Origin, his space exploration company working on making rockets that can be reused like airplanes to lower the cost of space travel.

Seattle, where Amazon has its headquarters, has been plagued by the rising number of homeless residents for the past several years.

"But it is really unsafe to demonise the media. It's okay. It's part of the process", Bezos said.

"But I will say this: I do think it's a mistake for any elected official to attack media and journalists".

With a personal fortune of $163.8 billion, according to the Bloomberg Billionaires Index, the Amazon.com Inc. chief executive officer had previously been largely invisible in the world of philanthropy. "We're going to push through this".

Since then, he and his wife have built the Bill & Melinda Gates Foundation, which had an endowment of US$51 billion at the end of 2017 and pledges to spend all its resources within 20 years of its founders' deaths.

Jeff Bezos, the founder and CEO of Amazon, just made a long-awaited announcement about what philanthropic causes would benefit from his enormous fortune - which has doubled in one year and is now estimated at more than $160 billion.

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