Jeff Bezos Creates $2B Fund to Develop Education Programs and Support Underserved Communities in US

Jeff Bezos, the infamous Amazon CEO, has announced the launch of a new charitable fund to help the "underserved communities" and "education programs." As told by BusinessInsider, a whole of $2B is to be allocated to Bezos Day One Fund. The Typical Student team is sharing the latest insights on Bezos’ new initiative.

What Will Bezos Day One Fund Focus On?

In the official statement issued this past Thursday, Jeff Bezos shared his thoughts on the Bezos Day One Fund created along with his wife MacKenzie Bezos. It is said, the fund will focus on "creating resources for the homeless as well as a full-scholarship preschool program." As reported by BusinessInsider, the fund was named after the Amazon CEO's "Day 1" philosophy which Bezos drew inspiration from.

Among other things, the Day One Fund’s will create a network to support homeless families and develop early education programs. Bezos himself described it as "full-scholarship, Montessori-inspired preschools." The Amazon's CEO took to Twitter to raise awareness about his new charity:

"We'll use the same set of principles that have driven Amazon," wrote Bezos. "Most important among those will be genuine, intense customer obsession. The child will be the customer."

—Jeff Bezos (@JeffBezos) September 13, 2018

Key Takeaways from Bezos’ Full Statement

The Bezos Day One Fund begins with a 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.

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.

The new charity is to use he same set of principles that have driven Amazon. Most important among those will be genuine, intense customer obsession. The child will be the customer. "Education is not the filling of a pail, but the lighting of a fire." And lighting that fire early is a giant leg up for any child.

Find out why Jeff Bezos loves robots so much: