Amazon Founder Jeff Bezos's Fortune Compounding Faster than He Can Donate It

  • September 20, 2018

CMG Image

Amazon.com Inc.’s founder and CEO Jeff Bezos, the richest man in modern history, on Thursday stepped up his plans for major philanthropic giving by pledging $2 billion to set up the charitable “Bezos Day One Fund.”

Yet Amazon stock has been rising so fast lately that despite the donation, Bezos’ fortune is on track to end this week even higher than where it began. With Amazon stock at $1952, up $7 Thursday, Bezos’ stake is now valued at nearly $158 billion —about $4 billion more than it was last weekend. His wealth rose about $500 million on Thursday alone.

Bezos, who announced his plans on Twitter, said his new charitable plans include setting up new preschools in low-income communities. The schools will be “high-quality, full-scholarship (and) Montessori-inspired,” he said. “We’ll use the same set of principles that have driven Amazon.  The child will be the customer.”

Read more at MarketWatch.com

Gerry Houseknecht
Loan Officer
NMLS # 91019
Branch NMLS # 1627273
GA 66186

Gerry Houseknecht

PHONE: (984) 239-2906

CMG Image
© CMG Financial, All Rights Reserved. CMG Financial is a registered trade name of CMG Mortgage, Inc., NMLS ID #1820 in most, but not all states. CMG Mortgage, Inc. is an equal opportunity lender with corporate office located at 3160 Crow Canyon Road, Suite 400, San Ramon, CA 94583 888-264-4663. Licensed by the Department of Business Oversight under the California Residential Mortgage Lending Act No. 4150025; AK #AK1820; AZ #0903132; Colorado regulated by the Division of Real Estate; Georgia Residential Mortgage Licensee #15438; Illinois Residential Mortgage Licensee; Kansas Licensed Mortgage Company #MC.0001160; Massachusetts Mortgage Lender License #MC1820 and Mortgage Broker License #MC1820; Mississippi Licensed Mortgage Company Licensed by the Mississippi Department of Banking and Consumer Finance; Licensed by the New Hampshire Banking Department; Licensed by the NJ Department of Banking and Insurance; Licensed Mortgage Banker – NYS Department of Financial Services; Ohio Mortgage Broker Act Mortgage Banker Exemption #MBMB.850204.000; Licensed by the Oregon Division of Financial Regulation #ML-3000; Rhode Island Licensed Lender #20142986LL; and Licensed by the Virginia State Corporation Commission #MC-5521. CMG Mortgage, Inc. is licensed in all 50 states and the District of Columbia. Offer of credit is subject to credit approval. For information about our company, please visit us at www.cmgfi.com. To verify our complete list of state licenses, please visit www.cmgfi.com/corporate/licensing and NMLS Consumer Access (www.nmlsconsumeraccess.org).