Jeff Bezos, founder and CEO of Amazon and the richest man in the world, said on Monday that he had committed $ 10 billion to a new fund to combat climate change.
In a post to its 1.4 million followers on Instagram, the e-commerce tycoon said the Bezos Earth Fund would "fund scientists, activists and NGOs – every effort that offers a real opportunity to protect and conserve the natural world contribute ".
"Climate change is the greatest threat to our planet," said Bezos, whose net worth is estimated at around $ 130 billion.
"I want to work with others to expand known avenues and explore new avenues to combat the devastating effects of climate change on this planet that we all share."
Bezos, who had maintained his status as the richest person in the world despite an expensive divorce last year, said his new foundation will award grants this summer.
Last September, Bezos said Amazon would commit to becoming carbon neutral by 2040 and the company would order 100,000 electric vans.
Instead of making investments that could benefit the business guru, the fund will provide project grants, the New York Times said, citing unnamed sources familiar with the initiative.
Bezos announced only a few details in his social media post, which was largely received positively by his followers.
Amazon has been criticized for generating large amounts of waste from the packaging in which it delivers its products, as well as emissions from huge fleets of delivery vehicles.
The New York Times said that even if Bezos spent the full $ 10 billion straight away, he would still be the richest person in the world.
Last week, the billionaire is said to have agreed to buy a mansion in Beverly Hills built by Hollywood film mogul Jack Warner in the 1930s for $ 165 million, a record price for a California house.
(Except for the headline, this story was not edited by NDTV staff and published from a syndicated feed.)