Amazon CEO says 'HQ2' decision will be announced before end of year

Bezos Amazon board visiting Washington but no headquarters announcement planned

It will begin with the commitment of $2 billion and focus on two areas: funding existing non-profits that help homeless families, and creating a network of new, non-profit, tier-one preschools in low-income communities.

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. The fund will be split between Day 1 Families Fund and Day 1 Academies Fund. There will also be full scholarships for Montessori-inspired preschools in "underserved" communities, he said. "In the caption, he wrote, "September is Childhood Cancer Awareness month", he further wrote that Amazon employees around the globe will be wearing pjs to work to show their solidarity and support to children suffering from the deadly disease".

Later, Bezos told a Washington gathering that the $2 billion was only a start and that he would likely expand his philanthropic efforts.

The Bezos Family Foundation, best known for supporting children's education, has been largely funded by his parents from Amazon holdings they acquired as early investors in their son's enterprise.

Bezos said he selected these two areas after getting thousands of ideas from an appeal he launched on Twitter previous year. Bezos said it was unsurprising and even normal to face questions when a company like Amazon becomes so big.

These terms of endearment are all things Trump has said about the news media, most of which came out via his Twitter account. Increasingly, the wealthy want to see their charitable giving put to work on immediate needs.

When the richest man in the world wears pajamas to a board meeting, it is sure to turn heads - but Jeff Bezos had a very important reason for doing so.

Gates did not fully throw himself into philanthropy until he stepped down as CEO of Microsoft in 2000. We will build an organization to directly operate these preschools.

"We live in an age in which the winners have done incredibly well and perhaps the majority of working Americans haven't", said Anand Giridharadas, author of "Winners Take All: The Elite Charade of Changing the World". Alibaba owns the South China Morning Post. Amazon is designating 47,000 square feet of space at its new corporate office for a permanent Mary's Place shelter.

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