With out figuring out the precise construction of the fund, it is unclear the place the $2 billion will come from. If it comes instantly out of Bezos’s personal pocket, which many think it’ll, he’ll be eligible for steep tax deductions. Thirty % of the present will likely be deductible if he units up a non-public basis; 50 % if it is a donor-advised fund.
The larger query is the scale of the fund, which is smaller in comparison to what different prime internet price folks within the tech trade, like Mark Zuckerberg or Invoice Gates, have pledged to provide again. Bezos hasn’t joined the Giving Pledge both, a well-liked marketing campaign that has one of the most global’s richest folks decide to making a gift of the vast majority of their wealth.
Bezos, on the other hand, hinted in an interview Thursday that he may probably upload extra to the $2 billion dedication because the initiative grows. Leslie Lenkowsky, a philanthropic research professor on the College of Indiana, mentioned Bezos’s thought of beginning small prior to increasing, often referred to as an “acorns to oaks” manner, isn’t unusual amongst rich folks.
“There is a just right argument initially a rather smaller quantity, after which whilst you see it is a success, increase it,” Lenkowsky mentioned.