Last year, Bezos asked his Twitter followers for ideas on how to help people with his vast fortune, and a few months ago he said he had decided on two areas in which he'd provide assistance.
The Day 1 Families Fund will help organizations and groups who provide food and shelter to families in need. Meanwhile, the Day 1 Academies Fund "will launch and operate a network of high-quality, full-scholarship, Montessori-inspired preschools in underserved communities. We will build an organization to directly operate these preschools," Bezos said.
The Amazon founder, who's been accused of underpaying employees, has also taken flak over his lack of public philanthropy, given his net worth of over $160 billion. However, in January, the Bezos family donated $33 million to TheDream.US in support of Deferred Action for Childhood Arrivals (DACA) recipients. Their contribution will help a thousand Dreamers attend college.