Over the last few years, Jeff Bezos, an American entrepreneur with a net worth measured in the hundreds of billions, has revealed in interviews, filings and philanthropic disclosures how he plans to deploy that fortune.
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Here’s where Bezos says his billions are going.
Exploring Space
One of Bezos’s most-publicized spending ambitions centers on Blue Origin, the aerospace venture he founded.
“The only way that I can see to deploy this much financial resource is by converting my Amazon winnings into space travel,” he told Mathias Döpfner, the CEO of Business Insider’s parent company, Axel Springer, in an interview.
Bezos believes that humanity must expand beyond Earth’s surface to avoid stagnation, and he imagines a future where “a trillion humans” might inhabit space, harnessing resources and solar power beyond our planet. Though that vision is ambitious (and speculative), it shows that Bezos wants his wealth not just for himself but also as seed capital for a possibly multi-century mission.
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Climate, Nature and Global Philanthropy
Bezos has also increasingly committed serious capital to Earth-bound crises. In 2020, he established the Bezos Earth Fund with a $10 billion commitment to fight climate change, protect biodiversity and support sustainable practices.
Then, according to the Washington Post, he pledged another $1 billion in 2021 (via the Earth Fund), focused on conserving 30% of the planet’s land and sea by 2030.
More recently, CNN reported that Bezos intends to donate most of his fortune during his lifetime to help solve global issues like climate change and inequality.
Supporting Humanitarian and Social Causes
Beyond space and climate, Bezos has also directed money to human-centered philanthropy. For example, Vox reported he committed $2 billion to his Day 1 Families Fund in 2018, of which around $521.6 million so far has been granted to organizations addressing homelessness. These causes sometimes receive less headlines than rockets and climate pledges, but they still reflect Bezos’s growing effort to allocate resources to immediate social needs.
Wealth Beyond Personal Luxury
Though Bezos is one of the richest people on the planet, he insists he isn’t motivated by luxury. In his interview with Axel Springer, he explained that there simply aren’t many meaningful ways to spend a fortune that size, at least not on himself.
“You’re not going to spend it on a second dinner out. That’s not what we are talking about,” Bezos said. “I am very lucky that I feel like I have a mission-driven purpose with Blue Origin that is, I think, incredibly important for civilization long-term.”
Leaving a Legacy (and Possibly Not Much for Heirs)
Bezos has indicated that he intends to donate much of his wealth and won’t necessarily leave the bulk of it to his children. Investopedia reported that he plans to give away most of his $124 billion fortune during his lifetime. In his estate-planning disclosure, which Investopedia also covered, he said his focus will be on giving his money away to causes that interest him and that he believes are vital for humanity in the future.
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This article originally appeared on GOBankingRates.com: How Jeff Bezos Plans To Spend (and Donate) His Billions Long Term
