Al Mayadeen English

  • Ar
  • Es
  • x
Al Mayadeen English

Slogan

  • News
    • Politics
    • Economy
    • Sports
    • Arts&Culture
    • Health
    • Miscellaneous
    • Technology
    • Environment
  • Articles
    • Opinion
    • Analysis
    • Blog
    • Features
  • Videos
    • NewsFeed
    • Video Features
    • Explainers
    • TV
    • Digital Series
  • Infographs
  • In Pictures
  • • LIVE
News
  • Politics
  • Economy
  • Sports
  • Arts&Culture
  • Health
  • Miscellaneous
  • Technology
  • Environment
Articles
  • Opinion
  • Analysis
  • Blog
  • Features
Videos
  • NewsFeed
  • Video Features
  • Explainers
  • TV
  • Digital Series
Infographs
In Pictures
  • Africa
  • Asia
  • Asia-Pacific
  • Europe
  • Latin America
  • MENA
  • Palestine
  • US & Canada
BREAKING
London views possibility of setting fire to tanker in port of friendly country to Russia to damage port infrastructure, initiate an international probe: Moscow
One of London's scenarios involves setting up accident with 'undesirable' tanker in one of the bottlenecks of maritime communications: Russian foreign intelligence agency
London plans to organize major sabotage with tankers to declare transportation of Russian oil to international shipping: Russian foreign intelligence agency
UK intelligence agencies plan to use NATO allies to launch massive raid on 'Shadow Fleet': Russian foreign intelligence agency
Palestinian Ministry of Health: Two were martyred in Israeli shelling that targeted a besieged house in the town of Qabatiya in Jenin
At least 68 dead in migrant shipwreck off Yemen: IOM
Trump: We want to feed the people in Gaza, we do not want them to starve.
US President Donald Trump: We will impose sanctions on Russia if it does not end the war on Ukraine.
Israeli media: Polls show that 52% oppose Prime Minister Benjamin Netanyahu while only 29% support him.
Israeli media: 32% of Americans still support "Israel's" war on Hamas, while 60% oppose it.

Bezos to give away most of personal fortune, Amazon lays off workers

  • By Al Mayadeen English
  • Source: Agencies
  • 14 Nov 2022 21:29
4 Min Read

Bezos' decision comes after he refused in 2010 to sign the Giving Pledge, a campaign launched by Warren Buffet and Bill Gates for the wealthiest individuals to dedicate the majority of their fortune to charitable causes. 

  • x
  • Jeff Bezos to give away majority of personal wealth, lays off workers
    Amazon founder Jeff Bezos

Amazon founder Jeff Bezos said in an interview on Monday that he would give away the majority of his fortune during his lifetime.

This marks the first time that Bezos announces he would donate more than half of his personal fortune all throughout his life.

The fourth-wealthiest person in the world said he was “building the capacity to be able to give away this money.”

The challenge, he said, is to figure out how to donate a big part of his $124 billion personal fortune.

Exclusive: Jeff Bezos tells CNN that he'll give away the majority of his $124 billion net worth during his lifetime, the first time he's made such a promise. https://t.co/br4nQKVR3n pic.twitter.com/puR4MFOAAo

— CNN International (@cnni) November 14, 2022

Recent updates reveal that Bezos awarded songwriter and performer Dolly Parton $100 million to give to whatever charities she chooses.

We’ve just announced a new Courage and Civility award recipient — @DollyParton, who leads with her heart, and will put this $100 million award to great use helping so many people. She joins prior awardees, @VanJones68 and @Chefjoseandres. Congrats, Dolly! pic.twitter.com/dzTuoGVp3G

— Jeff Bezos (@JeffBezos) November 12, 2022

Bezos received backlash in 2010 after he refused to sign the Giving Pledge, a campaign launched by Warren Buffet and Bill Gates for the wealthiest individuals to dedicate the majority of their fortune to charitable causes. 

Hundreds of billionaires have signed the pledge, including Michael Bloomberg, Mark Zuckerberg, Elon Musk, and Bezos’ ex-wife Mackenzie Bezos.

Several critics of the campaign argue that the Pledge is merely a public promise that the rich would give away their fortune.

Related News

Jeff Bezos to sell up to $4.75bn in Amazon stock

World's richest lose $208 bln in a day after new US tariffs announced

Moreover, Gates and Buffett have both become much wealthier than when they made their pledge.

For instance, Bill Gates pledged to donate his fortune in 2010, when his net worth was $53 billion. By 2020, it was $115 billion.

Read more: World's 10 richest men doubled their wealth during pandemic

At a time when Amazon founder is promising to give away most of his wealth for charity, The New York Times revealed earlier today that Amazon was planning to cut about 10,000 jobs mainly in corporate and technology roles beginning this week, including retail, human resources, and devices organization.

According to the report, the company which is composed of 1.5 million employees worldwide, plans to cut about 3% of its corporate employees and 1% of its global employees. 

The news comes just a week after Mark Zuckerberg, the CEO of META, announced that the US tech giant will be laying off 13% of its workforce.

11,000 of Meta's staff will be cut in "the most difficult changes we've made in Meta's history," said Zuckerberg on November 9.

On October 28, Bloomberg reported that Bezos' fortune could be nearly halved from its last year's record high as the forecast of the company's quarterly report triggered a strong drop in the value of its shares. 

On October 26, Amazon published a financial report that disappointed investors, and the fall in the value of its shares after the close of trading reached 21%. At the same time, in the first nine months of the current year, Amazon received a net loss of $3 billion against a profit of $19.041 billion for last year's same period. According to the results of the third quarter, Amazon's net profit decreased by 9% to $2.872 billion. 

If the drop continues at the close of today's trading, Bezos' fortune will automatically fall by $23 billion to $111 billion, according to Bloomberg. This is almost twice less than in July 2021, when his fortune reached $214 billion. 

 
Since this year's beginning, Bezos has lost more than $58 billion, while on Thursday alone, he lost nearly $5 billion, according to the Bloomberg Billionaires Index (BBI).
 
Bezos, Forbes says, was for four years the wealthiest person in the world, but in the April ranking, Elon Musk replaced him. Today, both Forbes Real-Time and BBI say he is the third richest man after Musk and Louis Vuitton Moët Hennessy owner Bernard Arnault.

Read more: FP: US elimination of Huawei, ZTE technologies is unsustainable

  • Jeff Bezos
  • Amazon

Most Read

A rescued crew member from the ETERNITY C vessel in a video released by the Yemeni Armed Forces on July 28, 2025 (Yemeni Military Media)

Yemen Navy reveals fate of targeted Eternity C ship crew

  • Politics
  • 28 Jul 2025
An Israeli tank explodes following an ambush by al-Qassam Brigades in Gaza, Occupied Palestine, undated (Al-Qassam Military Media)

Al-Qassam strikes Israeli vehicles in Gaza, inflicts casualties

  • Politics
  • 30 Jul 2025
UAE lodges complaint against Israeli ambassador over 'misbehavior'

UAE lodges complaint against Israeli ambassador over 'misbehavior'

  • Politics
  • 1 Aug 2025
Protesters chant anti-Israeli slogans as they carry a banner that reads:" Freedom for Palestine, Alliance stop the war," during a demonstration in support of Palestinians in Gaza, outside the Israeli embassy, in Athens, Monday, June 9, 2025 (AP)

Athens mayor slams Israeli ambassador over Gaza war, graffiti claim

  • Politics
  • 3 Aug 2025

Coverage

All
The Ummah's Martyrs

Read Next

All
A member of the al-Qassam Brigades, the armed wing of Hamas, takes part in a parade as he celebrates a ceasefire agreement between Hamas and the Israeli regime in Deir al-Balah, Gaza Strip, Sunday, January 19, 2025 (AP)
Politics

Al-Qassam: We’ll allow aid to Israeli captives if Gaza siege ends

Freed Lebanese freedom fighter Georges Abdallah during an interview on Al Mayadeen, which aired on Sunday, August 3, 2025 (Al Mayadeen screengrab)
Politics

Exclusive: Resistance key to building state, Georges Abdallah says

United Nations Secretary General Antonio Guterres gives a statement about the situation in Gaza at UN headquarters, Friday, June 27, 2025 (AP)
Politics

UN warns Gaza faces water crisis, looming famine under Israeli siege

Israeli soldiers drive their armored personnel carrier along the Gaza Strip, in southern occupied Palestine, Wednesday, July 30, 2025 (AP)
Politics

Ex-Israeli general says Gaza starvation campaign isolated 'Israel'

Al Mayadeen English

Al Mayadeen is an Arab Independent Media Satellite Channel.

All Rights Reserved

  • x
  • Privacy Policy
  • About Us
  • Contact Us
  • Authors
Android
iOS