Just a few hours ago the world’s richest man, Jeff Bezos, took to Instagram to announce that he would commit USD $10 Billion to combat climate change. The money is to be distributed by the newly established ‘Bezos Earth Fund’ and is dedicated to funding scientists, activists, NGO’s and any efforts that “offers a real possibility to help preserve and protect the natural world”.
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Today, I’m thrilled to announce I am launching the Bezos Earth Fund.??? ??? Climate change is the biggest threat to our planet. I want to work alongside others both to amplify known ways and to explore new ways of fighting the devastating impact of climate change on this planet we all share. This global initiative will fund scientists, activists, NGOs — any effort that offers a real possibility to help preserve and protect the natural world. We can save Earth. It’s going to take collective action from big companies, small companies, nation states, global organizations, and individuals. ??? ??? I’m committing $10 billion to start and will begin issuing grants this summer. Earth is the one thing we all have in common — let’s protect it, together.??? ??? – Jeff
The fund will begin issuing grants this summer and has said that it would not engage in private sector investment, but focus entirely on charitable giving. Unfortunately, all that we know at this stage is what’s been officially announced on Instagram. Therefore we’re not one hundred per cent sure on the finer details such as application process.
For a man who earns around USD $80 Billion a year the donation certainly won’t see Jeff ordering a salad instead of a steak, but it is nevertheless a generous commitment. It will be interesting to see if he continues to bankroll the fund or if it slips on to the back burner.
At the current figure of $10 Billion, it’s still shy of being crowned the largest philanthropic donation behind Warren Buffet’s $37 Billion commitment to the Bill and Melinda Gates fund of around $37 Billion.