The Bezos Day One Fund will contribute to "existing non-profit organisations that help homeless families" and also fund "a network of new, non-profit, tier-one pre-schools in low-income communities", he wrote.
Bezos said on Twitter that the schools would be located in underserved communities and would be operated by his new Bezos Day One Fund.
Bezos, the wealthiest person on the planet, whose stake in Amazon is now worth about $160 billion, says he'll call it the Bezos Day One Fund.
Earlier this year, under pressure from Amazon and other large employers, Seattle's City Council repealed an employee head tax created to provide housing and services for the homeless. It is a contrast to the long view that Bezos has preached at Amazon and Blue Origin, the space-travel technology company he has been funding with $1 billion a year through the sale of Amazon stock. We will build an organization to directly operate these preschools.
Bezos, and Amazon, have been criticized in Seattle for not doing more to help the needy and have become focal points in the booming region's angry debate about traffic, housing prices and homelessness. Forbes magazine placed him at the top of its list of billionaires for the first time this year, surpassing Microsoft co-founder Bill Gates and investor Warren Buffett. As per the current Giving Pledge signatory, Bezos is not participating.
He has also made donations for cancer research and to Princeton University, his alma mater.
A spokeswoman for Amazon did not offer further details on the new project. His net worth has risen by $64.7 billion this year alone as Amazon's shares have surged.
So, Jeff, from one member of the human species to another, I implore you to not only engage in philanthropy but also try to understand how you can fix Amazon's problems to set a better example.
Amazon has faced criticism for paying little in taxes, which stems in part from its historically low profits.
Amazon has selected 20 cities as "finalists" for the headquarters and has indicated it would make a decision by year-end.