The world has been waiting for a major philanthropy announcement from Jeff Bezos for over a year. The wealth that Bezos has amassed hasn't come without controversy, as many critics point to poor working conditions at his facilities while others say he doesn't do enough for the public good.
Within this, the Day 1 Families Fund will support existing non-profits that offer shelter and food to young homeless families.
"We'll use the same set of principals that have driven Amazon", wrote Bezos of the preschool management.
Bezos has yet to join "The Giving Pledge" created by fellow billionaires Bill and Melinda Gates and Warren Buffett, whose more than 180 signatories have promised to give more than half of their fortunes to philanthropy.
Senator Bernie Sanders, who has been one of Amazon's most vocal critics, last week introduced the Stop BEZOS Act, aimed at placing a tax on big companies like Amazon and Walmart so they compensate the government for the benefits it has to pay their low-income employees. "Most important of those will be genuine, intense customer obsession".
The fund will also launch a network of "full scholarship" preschools based in underserved communities.
Bezos said he selected these two areas after getting thousands of ideas from an appeal he launched on Twitter a year ago. At the time, he said that he was interested in funding projects to help people at the intersection of urgent need and lasting impact.
He said he was supporting "American democracy through stewardship of the Washington Post" and pointed to the contributions he has given to cancer research, marriage equality and college scholarships for immigrant students.
When asked about it, Bezos called it a "mistake" for any elected official to "attack media and journalists".
"The Bezos Family Foundation - and Jeff obviously has a role in that - has been engaged with early learning initiatives for years now", Burgess said, adding that it could only help the political momentum toward universal pre-K, as Seattle's preschool program is also once again on the ballot in November. "But it is really risky to demonize the media". We're going to be obsessively, compulsively focused on the child.
Bezos, who also owns The Washington Post and space exploration company Blue Origin, became the world's wealthiest person this year, with an estimated net worth of $164 billion, according to Bloomberg.
"We will build an organisation to directly operate these schools".