The world’s richest man, Jeff Bezos commits $10 billion to fight against climate change, making it one of the biggest charitable pledges ever.
The Amazon CEO, Monday announced a new fund to back scientists, activists, and organizations working to mitigate the impact of climate change.
Bezos will commit $10 billion “to start,” he said in an Instagram post.
The initiative, called the Bezos Earth Fund, will be effective this summer.
The $10 billion commitment constitutes less than 8% of the world’s richest man’s estimated $130 billion net worth.
Even so, it is one of the biggest charitable pledges ever, according to a ranking by the Chronicle of Philanthropy, behind a $36 billion commitment by billionaire Warren Buffett in 2006 and an estimated $16.4 billion pledge by Helen Walton, the late wife of Walmart (WMT) founder Sam Walton, in 2007.
“Climate change is the biggest threat to our planet,” Bezos said in the post. “I want to work alongside others both to amplify known ways and to explore new ways of fighting the devastating impact of climate change.”
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