SEATTLE (AP) — From Jeff Bezos’ free preschools to Andrew Carnegie’s public libraries, education stands out as a favorite cause among America’s wealthiest people.
As the rich get richer this legacy of so-called investment philanthropy has also shaped government priorities and fueled policy changes.
But with such high-profile giving fueled by both capitalism and poverty, critics have thrust that dichotomy into the spotlight, challenging how the system that allowed these philanthropists to amass such fortunes ultimately contributes to the social problems they’re trying to address.
Bezos announced this fall he’s dedicating half of his new $2 billion Bezos Day One Fund toward creating free preschools for children in low-income communities nationwide, which could make him the top philanthropic funder of early education. It’s Bezos’ firmest foray into philanthropy.