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

Katie Ramirez
September 14, 2018

Bezos made the announcement on Twitter a year after asking for ideas on how he could use his personal fortune - now estimated at more than $160 billion - for charitable efforts.

Jeff Bezos, Chairman and CEO of Amazon, speaks at the George W. Bush Presidential Center's Forum on Leadership in Dallas, Texas, US, April 20, 2018.

Citing the Amazon mantra of customer obsession, Bezos said in a tweet "the child will be the customer".

Mr Bezos - reportedly worth more than $164bn - has faced criticism for not doing more philanthropic work.

Jeff Bezos, founder of Amazon and owner of the Washington Post newspaper, warned Thursday that President Donald Trump's attacks on media are risky for the country.

The "Day 1 Academies Fund" will start an organization to operate a new network of full-scholarship pre-schools for low-income communities.

Earlier this year, under pressure from Amazon and other large employers, Seattle's City Council repealed an employee head tax created to provide housing and services for the homeless.

Verizon is launching a 5G home internet service on October 1
Verizon said it would offer free installation of routers and router upgrades that would support its 5G Home service. That's the same network that will eventually service phones, but home internet customers will get the first whack.

Mr Bezos solicited ideas on Twitter previous year for ways to donate some of his wealth.

In 2016, Bezos was asked if he planned to pursue philanthropy like Gates has.

It's good that Bezos understands that there is a poverty problem, but by throwing his money at third-party organizations-and not focusing on fixing the systemic income gaps his company creates-he is only further proving the point of those who critique the tone-deafness of tech billionaires.

Despite his concerns with Trump, Bezos said that he was not overly concerned about the future of the news media.

The Bezos gift is one of the biggest single donations ever announced for preschools, if not the biggest, said Avo Makdessian, director of the Silicon Valley Community Foundation's Centre for Early Learning.

He added that "we live in a society where it's not just the laws of the land that protect us... it's also the social norms that protect us".

It also falls short of the "giving pledge" initiative launched by Gates and billionaire investor Warren Buffett, who have encouraged wealthy individuals to pledge half their fortunes for philanthropy. While his and Amazon investors' wealth increases-and the company's market capitalization approaches $1 trillion-what makes the business so efficient is that relies on automation and low-priced labor.

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