Adrian Li (11) | STAFF REPORTER
On February 17th, Amazon CEO Jeff Bezos announced via an Instagram post that he is pledging $10 billion for climate change with the launch of the new Bezos Earth Fund.
Accounting for almost 8% of his estimated net worth of $130 billion, this pledge will finance work by scientists, activists, and NGOs according to the post. “We can save Earth. It’s going to take collective action from big companies, small companies, nation-states, global organizations, and individuals.”, Bezos says. “I’m committing $10bn to start and will begin issuing grants this summer. Earth is the one thing we all have in common – let’s protect it, together.”
In hindsight, the world’s richest man had given relatively little to his limited philanthropic efforts. Bezos has been known to direct his investments to his space travel company, Blue Origin, instead of charitable causes. He has also been criticized for not signing the Giving Pledge, a campaign encouraging the wealthy to donate half of their net worth to philanthropy. In comparison, Bill Gates has given away over $45 billion through the Bill and Melinda Gates Foundation.
While many applaud the Amazon CEO for this generous donation to an important cause, it has faced backlash by others who see the income inequality surrounding this. Undeniably, this large sum of money will reshape the fight against climate change, entirely dependent on whatever Bezos decides to do with it.
