Jeff Bezos announced that he will donate the majority of his fortune for the rest of his life

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The businessman said he will hand over the USD 124 billion from his accounts, although he is still studying how it will be distributed to charitable causes over the years

Jeff Bezos announced that he will donate most of his fortune for the rest of his life

Jeff Bezos in his interview with CNN.

Amazon founder Jeff Bezos will give away most of his $124 billion wealth during his lifetime, the billionaire said in an interview with CNN on Monday.

Without elaborating, Bezos said he and his partner, journalist-turned-philanthropist Lauren Sánchez, were < b>“building the capacity to be able to deliver this money”.

The hard part is figuring out how to do it in a leveraged wayBezos said during the interview. “Is not easy. Building Amazon was not easy. It took a lot of hard work and very smart teammates. And I'm finding – and Lauren is finding – that philanthropy is very similar. Is not easy. It's really hard.”

Bezos had been criticized in the past for not signing the Giving Pledge, the campaign launched by Bill Gates, Melinda French Gates and Warren Buffet to encourage billionaires to donate the majority of their wealth through philanthropy.

The billionaire has previously pledged $10 billion to fight climate change and protect nature through the Bezos Earth Fund, of which he is a member CEO. He also announced a $200 million gift to the Smithsonian's National Air and Space Museum.

Jeff Bezos announced that he will give away the majority of his fortune for the rest of his life

Jeff Bezos and Lauren Sánchez (video still, CNN)< p class="paragraph">The 20-minute exchange between the couple and CNN covered a wide variety of topics from Bezos' views on political dialogue and a possible economic downturn to Sánchez's plan to visit outer space with an all-female crew and his thoughts on a burgeoning business partnership with Bezos, the outlet commented.

In one of the questions, the reporter asked the tycoon if his intention was to donate most of his assets while he was alive, to which he replied that that is his intention.

Despite being one of the four richest people in the world, Bezos refused to set a target amount for how much he will give away over his lifetime, as explained by CNN.

The measures Bezos' charities stand in stark contrast to those of his ex-wife, MacKenzie Scott, who quickly turned to philanthropy after the divorce, recently giving away nearly $4 billion to 465 organizations in less than a year. p>

In the interview with the US media, Bezos admitted that it has beencommitted to donating $10 billion over 10 years, or about 8% of his current net worth, to the Bezos Earth Fund, which Sánchez co-chairs. He also explained that among his priorities are reducing the carbon footprint of cement and steel for construction; press financial regulators to take climate-related risks into account; advance mapping and data technologies to monitor carbon emissions; and build large-scale natural plant-based carbon sinks.

Jeff Bezos announced that he will donate the majority of his fortune for the rest of his life

“So you have to think about it and you have to have brilliant people in the team”. REUTERS/Clodagh Kilcoyne/File Photo

As for how he prepares donations and the time it will take to set good goals, he explained, “There are a lot of ways I think you can do ineffective things as well,” he added. “So you have to think it through and you have to have brilliant people on your team.”

Given the current economic situation, with numerous analysts warning about the possibility of a recession in the short or medium term, Bezos recommended that small businesses and people in general avoid taking risks at this time and that if they plan to make a large purchase, to wait a bit

“The economy right now doesn't look very good, things are slowing down, we're seeing layoffs in a lot of sectors, odds are if we're not now in a We will be in a recession very soon, so my recommendation to small businesses is that they don't take risks now,” he said.

Bezos, who stepped down as Amazon chief executive in 2021, owns about 10% of the e-commerce giant, along with the Washington Post news organization and Blue Origin space tourism company.

On Saturday, country music star and philanthropist Dolly Parton was awarded $100 million through the “Bezos Courage & Civility Award,” an honor that recognizes leaders who “pursue solutions with courage and civility.” The endowment must go to the organizations that the winner chooses.

Jeff Bezos announced that he will donate the majority of his fortune for the rest of his life

Dolly Parton received 100 million dollars through the “Bezos Courage & Civility Award,” an honor that recognizes leaders who “pursue solutions with courage and civility.”

In the announcement video, the 76-year-old singer exclaimed “Wow! Did you say 100 million dollars? and announced that he will do everything possible to do “good things with that money”.

Some of the recipients of this award instituted by Bezos have been Van Jones, commentator and founder of the Dream Corps organization, and Spanish chef José Andrés, who runs the World Central Kitchen Foundation.

(With information from Reuters, AP, EFE)

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