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$174 million new Jeff Bezos gift goes to nonprofits
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$174 million new Jeff Bezos gift goes to nonprofits

Philanthropist Jeff Bezos in a new charitable commitment recently gave 1.9 million shares of Amazon to charitable organizations.

The new gift is valued at $174 million.

Mr. Bezos does most of his philanthropy through giving Amazon stock, which nonprofits can sell at any time without paying capital gains taxes.

To date Mr. Bezos has given nearly $600 million in Amazon shares this year to various causes.

Since stepping down as CEO of Amazon, he has considerably increased his charitable contributions.

In October Mr. Bezos received a philanthropy award named “Prophet of Philanthropy” at the Vatican.

He also made large donations last year to the Smithsonian Air and Space Museum (a $200 million pledge over four years) and to the Obama Foundation (a $100 million donation).

As we reported earlier, Mr. Bezos’ single largest philanthropic commitment to date, is the Bezos Earth Fund, a $10 billion commitment over the next decade to combat climate change.

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