by Daanyal Raja
Jeff Bezos, the current CEO of Amazon and its original founder, recently created a new company to implement his $10 billion pledge to fight climate change and global warming. The Amazon founder started Fellowship Ventures LLC, a limited liability company that applied for a trademark, with Bezos’ signature, for the “Bezos Earth Fund” in July.
Fellowship Ventures LLC is the largest and most significant philanthropic act by Bezos, who is currently the world’s richest man. However, ever since Bezos announced the pledge in mid-February, few details have been released to journalists and the public. In this case, details are extremely important, as they would answer questions ranging from over how much time Bezos will give the money to how it will be used.
Furthermore, if Bezos does use Fellowship Ventures LLC to fulfill his pledge, transparency would be greatly limited since LLCs aren’t required to file tax documents that are available to the public. The LLC could also end up owning the “Bezos Earth Fund” name and have the donations go through a more transparent and structured method, such as a traditional philanthropic foundation.
Either way, Bezos and his team aren’t giving us any details for now. The Amazon founder did say he would begin making grants to climate change organizations and groups this summer, but we have yet to see anything. When Recode approached Amazon, the technology giant declined to comment on the Fellowship Ventures LLC. Moreover, the trademark for Fellowship Ventures was filed in Jamaica first, a tactic that is sometimes used by companies to prevent others from gaining information about their plans, according to trademark experts.
Billionaires, especially people like Jeff Bezos, who is worth almost $200 billion, have the potential to rid the world of many problems ranging from homelessness, world hunger, and climate change. Once people like Bezos donate and strive to make a progressive change that benefits us all, our planet will become a much better place. The actions of a few wealthy individuals have the ability to change the world for all of us, the least we can do is encourage them to do the right thing.