Economy

Jeff Bezos announced a $10 billion fund to fight climate change

Jeff Bezos announced a $10 billion fund to fight climate change”

Amazon.com founder Jeff Bezos took some time off from being ribbed at the Oscars and purchasing pricey real estate to do something really big - announcing a massive private venture in the form of a $10 billion fund to fight climate change. Bezos is giving $10 billion to start and will begin issuing grants this summer, according to the post. "It's going to take collective action from big companies, small companies, nation states, global organizations, and individuals", he added.

He's adamant, "We can save Earth".

The richest man in the world, Bezos has an estimated net worth of $129.9 billion, so his $10 billion pledge is about 7.7% of that.

Observers recently accused Bezos of being stingy after he donated $690,000 toward relief efforts related to devastating wild fires in Australia (which experts link to climate change).

With an estimated net worth of almost $130 billion, his pledge accounts for about 7.7% of his wealth.

On Monday, following Bezos' announcement, the Amazon Employees for Climate Justice group issued a statement pointing out Amazon's reliance on oil: "When is Amazon going to stop helping oil & gas companies ravage Earth with still more oil and gas wells?"

This big picture, per Axios' Ben Geman: The new fund is the latest example of tech companies or their billionaire founders devoting more resources to climate change.

That announcement came as more than 1,700 Amazon employees were set to walk out on the job September 20 to support the global climate change marches and call on the company to do more to combat the climate crisis. The fund will support scientists, activists, non-governmental organizations and "any effort that offers a real possibility to help preserve and protect the natural world", he said. "Earth is the one thing we all have in common - let's protect it, together."⁣⁣⁣.



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