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In a 2001 interview, Amazon.com, Inc. (NASDAQ:AMZN) founder Jeff Bezos reflected on the moral responsibility that comes with extraordinary wealth — calling himself a "lottery winner" and highlighting that philanthropy requires as much "time, energy, focus, and hard work" as building a fortune.
Bezos said that immense wealth brings an obligation to use it effectively, noting that giving away money can often be as challenging as earning it.
"If you are a lottery winner as I am, then one of the things you get a chance to do at some point in your life is to be a philanthropist," Bezos said at the time. "I think that if you win a lottery of this kind of size, one of the things you have an obligation to do is think about ways that wealth can be used in a highly leveraged way."
Bezos also cautioned that poor philanthropic choices can squander resources. "It's really easy to give away money in highly unleveraged ways where it's just a waste," he said. "I suspect that it takes as much time, energy, focus, and hard work to effectively give away money as it does to get it in the first place."
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Bezos, who founded Amazon in 1994 after leaving a lucrative Wall Street job, turned a small online bookstore into a $2.3 trillion e-commerce empire.
He currently holds a net worth of about $240 billion, according to Bloomberg's Billionaires Index, and owns roughly 8.6% of Amazon.
In recent years, Bezos has expanded his philanthropic footprint through initiatives like the $10 billion Earth Fund, aimed at tackling climate change, and the Courage and Civility Award, which grants $50 million to individuals supporting humanitarian causes.
However, in February, it was reported that $10 billion Earth Fund has ended its support for the Science Based Targets initiative.
He also pledged $2 billion in 2018 to support homeless families and education programs, and, alongside his wife Lauren Sánchez, has made several multimillion-dollar charitable donations.
Bezos' ex-wife, MacKenzie Scott, has donated more than $19 billion to over 2,000 nonprofits since 2019 through her organization, Yield Giving.
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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Posted In: AMZN
