Bezos Earth Fund Announces Contribution of $10 Billion

Amazon’s CEO Jeff Bezos is the wealthiest man in the world. He said on Monday that he is contributing $10 billion to a new fund to address climate change. The e-commerce tycoon reveals through the Bezos Earth Fund, in a tweet to his 1.4 million followers on Instagram.

Bezos, who has retained his position as the richest man in the world following last year’s expensive divorce, said his foundation will start granting this summer.

Bezos said last September that Amazon would commit in becoming carbon neutral by 2040 and stated the company would order 100,000 trucks for electric distribution.

The Bezos Earth Fund would distribute grant money to initiatives instead of making investments that the business strategist might benefit from, the New York Times reported, citing unnamed sources associated with the initiative. Bezos disclosed few details about his post on social media, which attracted extremely positive reactions from his followers.

Amazon has been blamed for creating large quantities of waste from the packaging. This is in which it ships its goods, as well as for the pollution from massive delivery vehicle fleets. The NY Times said that Bezos instantly spent the entire $10 billion. He will still be the wealthiest person.

The billionaire officially agreed last week to buy a Beverly Hills estate. It is designed in the 1930s for $165 million by Hollywood movie producer Jack Warner. As per reports, it is a very high price for a house in California.

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