Some People Are Giving Back

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Abstract

os was to appear before Congress in front of an antitrust panel which has been investigating how Amazon has used its market power to hurt smaller rivals.Scott received a 4% stake in Amazon after her divorce from Jeff Bezos, the CEO of Amazon, currently the richest man in the world. At that time, her stake was worth about $36 billion, but her fortune grew to over$ 60 billion over the year with the jump in Amazon’s shares.While $1.7 billion is a huge amount to most ordinary people and it is a commendable donation, it is a miniscule amount compared to the billions of dollars which are being controlled and basically hoarded by such a small amount of people. Who needs to have so much money when millions of people are suffering, even possibly homeless and hungry? The billionaires of the world can afford to share more of their wealth.Indeed, Amazon has come out like bandits during the coronavirus global pandemic since so many more people have begun to shop online to avoid having to go out in public to retail stores. Although the essential stores are open for business, many people choose to shop online as a safety measure to stay away from crowds.While it is admirable that Ms. Scott and other billionaires are willing to share a little of their wealth, it is just a drop in the bucket compared to the money that they control. Some billionaires give privately without fanfare and publicity, and many have set up foundations to donate to worthy causes. A lot of money is likely given away anonymously by billionaires and millionaires, but it is good for the public to know that some are willing to give back in some way to help those who are less fortunate.The corona

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virus global pandemic has caused such huge financial problems for millions of Americans and others throughout the world. The racial tensions which have escalated after the killing of George Floyd by a Minneapolis police officer have brought another set of problems to Americans.Many people have lost their jobs and businesses during these trying times. Millions have received some help through the government stimulus checks and the unemployment benefits, but there are still millions of people suffering severely in these uncertain times. Some people are losing the roof over their heads because of the financial constraints placed on them as a result of the economic problems facing the nation.While not that many people have millions or billions of dollars, we may be able to help those who are less fortunate. Helping family members who might be having economic challenges during these difficult times should be paramount if possible. There are always homeless and hungry people who can use a little help. We may be able to share a little food or money. Most are grateful for anything they receive.Although the billionaires and millionaires can help on a grander scale, most of us can help in some small way. It is up to us to show care and concern for others whom we may encounter. A little kindness could go a long way and make the world a better place.<figure id="7383"><img src="https://cdn-images-1.readmedium.com/v2/resize:fit:800/0*1nznlA-NG4CdYZnH"><figcaption>Photo by <a href="https://unsplash.com/@ecasap?utm_source=medium&utm_medium=referral">Elaine Casap</a> on <a href="https://unsplash.com?utm_source=medium&utm_medium=referral">Unsplash</a></figcaption></figure></article></body>

A tiny bit of the Amazon fortune

Millions of people are suffering and could use some financial help during these difficult times. Some people are giving back and helping others by donating a small portion of money from the fortunes they control. So much more help is needed. Those who are hoarding so much of the world’s wealth could give back to a greater degree during this time of horrific economic conditions.

According to an article in Reuters by Nandita Bose in Washington with editing by David Gregorio, MacKenzie Scott, who is the ex-wife of Jeff Bezos, donated $1.7 billion of her wealth in the past year to causes which include racial equality, LGBTQ rights, public health, and climate change. Scott signed the Giving Pledge last year in a commitment to donate the majority of her fortune.

She wrote in a post on Medium: “Like many, I watched the first half of 2020 with a mixture of heartbreak and horror.” She continued: “I began work to complete my pledge with the belief that my life had yielded two assets that could be of particular value to others: the money these systems helped deliver to me, and a conviction that people who have experience with inequities are the ones best equipped to design solutions.”

The announcement by Scott was made a day before Jeff Bezos was to appear before Congress in front of an antitrust panel which has been investigating how Amazon has used its market power to hurt smaller rivals.

Scott received a 4% stake in Amazon after her divorce from Jeff Bezos, the CEO of Amazon, currently the richest man in the world. At that time, her stake was worth about $36 billion, but her fortune grew to over $60 billion over the year with the jump in Amazon’s shares.

While $1.7 billion is a huge amount to most ordinary people and it is a commendable donation, it is a miniscule amount compared to the billions of dollars which are being controlled and basically hoarded by such a small amount of people. Who needs to have so much money when millions of people are suffering, even possibly homeless and hungry? The billionaires of the world can afford to share more of their wealth.

Indeed, Amazon has come out like bandits during the coronavirus global pandemic since so many more people have begun to shop online to avoid having to go out in public to retail stores. Although the essential stores are open for business, many people choose to shop online as a safety measure to stay away from crowds.

While it is admirable that Ms. Scott and other billionaires are willing to share a little of their wealth, it is just a drop in the bucket compared to the money that they control. Some billionaires give privately without fanfare and publicity, and many have set up foundations to donate to worthy causes. A lot of money is likely given away anonymously by billionaires and millionaires, but it is good for the public to know that some are willing to give back in some way to help those who are less fortunate.

The coronavirus global pandemic has caused such huge financial problems for millions of Americans and others throughout the world. The racial tensions which have escalated after the killing of George Floyd by a Minneapolis police officer have brought another set of problems to Americans.

Many people have lost their jobs and businesses during these trying times. Millions have received some help through the government stimulus checks and the unemployment benefits, but there are still millions of people suffering severely in these uncertain times. Some people are losing the roof over their heads because of the financial constraints placed on them as a result of the economic problems facing the nation.

While not that many people have millions or billions of dollars, we may be able to help those who are less fortunate. Helping family members who might be having economic challenges during these difficult times should be paramount if possible. There are always homeless and hungry people who can use a little help. We may be able to share a little food or money. Most are grateful for anything they receive.

Although the billionaires and millionaires can help on a grander scale, most of us can help in some small way. It is up to us to show care and concern for others whom we may encounter. A little kindness could go a long way and make the world a better place.