Jeff Bezos is the richest person in the world and has been criticized for not contributing more to philanthropy. This summer that may all change according to a Tweet release by Bezos. He claims that he will announce the two projects that he will fund, hopefully before the end of the summer.
This all began with a tweet made by Jeff Bezos a year ago. In the tweet he asked people for ideas for his philanthropic ventures. Contrary to his long-term business model approach, Bezos is looking for ways to make impactful differences in the short-term for people in crisis.
Bezos will continue to liquidate his Amazon stock assets to fund his company dealing with space travel. He is currently doing this at a rate of about $1 billion dollars per year. He believes this is the correct way to use most of his money.
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Co-founder of Facebook and publisher of The New Republic, Chris Hughes spoke with Philanthropy.com and author of Shift & Reset: Strategies for Addressing Serious Issues in a Connected Society's Brian Reich about how philanthropy is constantly evolving and how technology is changing the way wealthy donors choose to give back.