Sep 13, 2018

Bezos' $2 billion fund targets homelessness, low-income preschools

Jeff Bezos and his wife MacKenzie. Photo: Franziska Krug/Getty Images

Amazon founder Jeff Bezos on Thursday revealed his long-awaited plans to increase his philanthropy: he and his wife have committed $2 billion to give to charities that support homeless people and to build new preschools in low-income areas.

Why it matters: The scale of his wealth means he can have a dramatic influence over almost any area of society he chooses. Up until now, Bezos has been relatively ungenerous compared to his status as the richest person in the world.

The details: The so-called "Bezos Day One Fund" will start with spending $2 billion in two areas:

  • Charities that already exist to support homeless families
  • The creation of a network of “high-quality, full-scholarship, Montessori-inspired preschools in underserved communities"

The big picture: Silicon Valley companies and the people who got rich off of them are under pressure to account for their role in rising inequality and other strife in society. As Amazon continues its march towards dominance, philanthropic efforts will provide Bezos with an argument he is changing the world without any regard for his self-interest.

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Coronavirus dashboard

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  1. Global: Total confirmed cases as of 3 a.m. ET: 665,164 — Total deaths: 30,852 — Total recoveries: 140,225.
  2. U.S.: Leads the world in cases. Total confirmed cases as of 3 a.m. ET: 124,665 — Total deaths: 2,191 — Total recoveries: 1,095.
  3. Federal government latest: President Trump announces new travel advisories for New York, New Jersey and Connecticut, but rules out quarantine enforcement. Per the CDC, residents of those states must now "refrain from non-essential domestic travel for 14 days," with the exception of critical infrastructure industry workers.
  4. State updates: Alaska is latest state to issue a stay-at-home order — New York is trying to nearly triple its hospital capacity in less than a month and has moved its presidential primary to June 23. Some Midwestern swing voters who backed Trump's handling of the virus less than two weeks ago are balking at his call for the U.S. to be "opened up" by Easter.
  5. World updates: In Spain, over 1,400 people were confirmed dead between Thursday to Saturday.
  6. 🚀 Space updates: OneWeb filed for bankruptcy amid the novel coronavirus pandemic.
  7. Hollywood: Tom Hanks and Rita Wilson have returned to U.S. after being treated for coronavirus.
  8. What should I do? Answers about the virus from Axios expertsWhat to know about social distancingQ&A: Minimizing your coronavirus risk
  9. Other resources: CDC on how to avoid the virus, what to do if you get it.

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Coronavirus updates: Global death toll tops 30,000

Data: The Center for Systems Science and Engineering at Johns Hopkins, the CDC, and China's Health Ministry. Note: China numbers are for the mainland only and U.S. numbers include repatriated citizens and confirmed plus presumptive cases from the CDC

The novel coronavirus has now killed more than 30,000 people around the world — with Italy reporting over 10,000 deaths, per Johns Hopkins data.

The big picture: The number of deaths from COVID-19 in the U.S. surpassed 2,000 on Saturday. The United States leads the world in confirmed coronavirus infections — more than 124,000 by early Sunday. The number of those recovered from the virus in the U.S. passed the 1,000-mark on Saturday evening.

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Gilead expands access to experimental coronavirus drug in emergency cases

Photo: Olivier Douliery/AFP via Getty Images

Gilead Sciences CEO Daniel O’Day said in an open letter Saturday the company is expanding access to its experimental anti-coronavirus drug remdesivir to include severely ill COVID-19 patients.

The big pig picture: President Trump has called the antiviral drug "promising," but the results of six clinical trials on this investigational medicine are still being conducted, so its effectiveness the treatment of the novel coronavirus has yet to be proved. The World Health Organization is involved in the tests.

Go deeperArrow3 hours ago - Health