Jan 14, 2018

Mr. Amazon steps out

Jeff Bezos. Photo: Michael S. Williamson / The Washington Post via Getty Images

Jeff Bezos — with Amazon, The Washington Post and the Blue Origin space start-up — "is the world’s richest person and can afford virtually any luxury. But obscurity is no longer among them," write the N.Y. Times' Nick Wingfield and Nellie Bowles:

  • "On Friday, Mr. Bezos and his wife, MacKenzie, made public their $33 million donation to a nonprofit that provides college scholarships to ... Dreamers ... In October, he received an award for a donation to a marriage equality campaign."
  • "As he was shaping Amazon into one of the world’s most valuable companies, Mr. Bezos developed a reputation as a brilliant but mysterious and coldblooded corporate titan."
  • "Bezos — who at 54 [has] a net worth of more than $100 billion — ... has become a bête noire for President Trump, who repeatedly singles out him and Amazon for scorn on Twitter."
  • AOL co-founder Steve Case, who recently started an investment fund focused on start-ups in underserved areas, with Bezos among its contributors: “People are starting to get scared of Amazon ... If Jeff continues to hang out in Seattle, he’s going to get a lot more incoming."
  • "In 2016, Mr. Bezos bought a $23 million home in Washington, one of the city’s most expensive, which is undergoing extensive renovations to make it a suitable party spot for the city’s political class."
  • What's next: "Bezos plans to host salon-style dinners at the house, drawing inspiration from the celebrated dinner parties thrown by Katharine Graham, the former publisher of The Post, for the city’s movers and shakers from both parties. "

Worthy of your time.

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Why it matters: The Fed’s only reason for lifting the cap is so Wells Fargo can dole out more loans to struggling small businesses as part of the government’s coronavirus aid package. Earlier this week, the bank said it could only lend a total of $10 billion, thanks to Fed restrictions that it can’t grow its assets beyond $1.95 trillion.

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Bernie Sanders suspends presidential campaign

Photo: ANDEL NGAN/AFP via Getty Images

Sen. Bernie Sanders announced Wednesday that he is suspending his presidential campaign.

The big picture: It's an end to the campaign of the leading progressive in the race — and the candidate who seemed to be the clear front-runner for the Democratic nomination just a few months ago. It also makes Biden the presumptive Democratic nominee four months before the party's convention in Milwaukee.