Read Jeff Bezos' full statement about his $2 billion Day One fund

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The announcement, made through a statement from Bezos, comes after the executive reached out past year to ask for suggestions on approaches to philanthropy.

He said on Thursday that the "Bezos Day One Fund" will contribute to "existing nonprofits that help homeless families" and also fund "a network of new, nonprofit, tier-one preschools in low-income communities".

The fund will issue annual leadership awards to organizations and civic groups doing work to "move the needle" in providing hunger and shelter support to young families. Going by Wednesday's closing price of $1,990 per share, Bezos will need to gift about 1 million shares of Amazon stock to meet the $2 billion commitment, Forbes reports, adding that he would be left with some 78 million shares of the company he founded.

By choosing to focus his philanthropy on homelessness and early education, Bezos is likely influenced both by his parents's Bezos Family Foundation and by his adopted hometown of Seattle, however mixed some people there may feel about the city's growing affordability crisis that's been largely attributed to the success of Amazon.

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"We'll use the same set of principles that have driven Amazon", he said in his statement. "In the caption, he wrote, "September is Childhood Cancer Awareness month", he further wrote that Amazon employees around the globe will be wearing pjs to work to show their solidarity and support to children suffering from the deadly disease".

The "Day 1 Academies Fund" will start an organization to operate a new network of full-scholarship pre-schools for low-income communities.

Bezos's wealth has allowed him to pay for side ventures, including starting space exploration company Blue Origin and buying the Washington Post newspaper.

Bezos is worth $164 billion, according to the Bloomberg Billionaires Index, a sum mostly derived from the about 16 percent stake in Amazon that he owns.

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Bezos has yet to join "The Giving Pledge" created by fellow billionaires Bill and Melinda Gates and Warren Buffett, whose more than 180 signatories have promised to give more than half of their fortunes to philanthropy.

Earlier this year, under pressure from Amazon and other large employers, Seattle's City Council repealed an employee head tax created to provide housing and services for the homeless.

In the past, Bezos has made political contributions, but not of this magnitude.

Helping the homeless has also been a focus for Amazon.

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Last year, he donated $33 million to fund scholarship for "dreamers", the name given to undocumented children of immigrants who face legal obstacles in attending college or university.

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