Jeff Bezos Commits To Giving Away Majority Of His $124 Billion Fortune

Topline

Jeff Bezos said he plans to donate most of his billions to philanthropic causes throughout his lifetime, the primary time the Amazon founder has dedicated to doing so after years of criticism for philanthropic commitments paling compared to many different of the world’s wealthiest individuals.

Jeff Bezos has stated for the primary time he needs to present most of his wealth to charity.

Hindustan Instances through Getty Pictures

Key Details

Bezos didn’t provide particulars on the place that cash will go, however he has committed billions of {dollars} to preventing local weather and made a handful of high-profile nine-figure donations to establishments just like the Smithsonian’s Air and Area Museum.

Bezos, who has notoriously declined to signal the Giving Pledge began by fellow American billionaires Warren Buffett and Invoice Gates encouraging billionaires to present most of their cash to charity, remained predictably perplexed by the easiest way to dedicate his billions.

“It’s not straightforward,” Bezos told CNN about philanthropy, making an obvious dig at different high-profile donors, including, “There are a bunch of ways in which I feel you may do ineffective issues, too.”

Forbes Valuation

We estimate Bezos’ net worth to be $124 billion, the fourth-largest fortune on the earth. Bezos was previously the wealthiest man on the earth, however his web value has shrunk as Amazon inventory tumbled. The 58-year-old was value greater than $200 billion final 12 months as Amazon traded close to its all-time excessive of $188.11, however shares of the Seattle-based agency are down greater than 40% year-to-date.

Shocking Reality

Bezos’ ex-wife Mackenzie Scott, who acquired a 25% stake in Amazon as a part of the couple’s 2019 divorce, has been significantly more charitable than Bezos. Scott has given away $12.8 billion since 2020, greater than 500% greater than the roughly $2.5 billion her ex-husband has donated in his lifetime, according to our estimates last month. Scott signed the Giving Pledge in Could 2019, shortly earlier than the finalization of her divorce settlement.

Tangent

“I’ve heard that buzz,” Bezos told CNN about experiences he’s fascinated about shopping for the NFL’s Washington Commanders, a deal that would set the report worth for a sports activities staff sale. Bezos’ girlfriend Lauren Sánchez egged on Bezos, including, “I do like soccer. I’m simply going to throw that on the market for everybody.”