Jeff Bezos and Lauren Sanchez at the London premiere of The Lord of the Rings: The Rings of Power
Amazon founder Jeff Bezos said he plans to give away most of his $124 billion fortune during his lifetime.
The businessman told CNN that he plans to donate his wealth to fight climate change and reduce inequality.
Bezos has previously been criticized for not promising to give his fortune to charity.
Investor Warren Buffett, Microsoft founder Bill Gates, and Bezos’ ex-wife Mackenzie Scott have all pledged to part ways with their wealth.
Bezos revealed his plans after giving $100 million to music star and philanthropist Dolly Parton for charity.
“Yes, I will,” Bezos said when asked by CNN if he intended to give away most of his wealth during his lifetime.
He declined to give details of where the money was spent or donated, but said: “The hard part is figuring out how to do it foolproof.”
He added that he and his partner, Lauren Sanchez, are “building the capacity to donate these funds.”
The billionaire previously pledged $10 billion to the Bezos Earth Fund, which he launched in 2020 to help tackle climate change.
The move came after Bezos and other entrepreneurs came under fire for spending large sums of money on space travel, rather than solving problems in the field. Amazon has also been criticized in the past by its workers for its record on climate change.
Bezos became one of the richest people on the planet after Amazon, the online retailer he founded in 1994, became a global phenomenon.
He stepped down as CEO of Amazon in 2021, but remains its president. He also owns the Washington Post and the space travel company Blue Origin.
On Sunday, Bezos presented Dolly Parton with the “Bezos Award for Courage and Grace,” which honors leaders who “pursue solutions with courage and grace.”
Parton, who has championed causes such as child literacy, will be able to donate money to charities of her choice.
“We couldn’t think of a better person to give this award to, and we know he’ll do amazing things with it,” Sanchez told CNN.
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In a video of the party posted online, Parton said, “Wow! Did you say $100 million?”
“I will do my best to do good things with this money,” he added.
Bezos launched the award in 2021, with prizes given to activist Van Jones and philanthropic chef Jose Andres, who founded World Central Kitchen, which supplies food to affected countries.
Parton, a singer-songwriter, actress, businesswoman and philanthropist, was inducted into the Rock and Roll Hall of Fame earlier this month.
She was a major supporter of charities and founded the Dollywood Foundation, which has provided children’s books around the world.
