Jeff Bezos, the owner of Amazon, recently announced the names of the very first recipients for his charitable event named Day One Fund. The initial set of grants boils down to a total of $97.5 million which represents around 1/20^th from his proposed pitch for the fund. This number is also close to 0.0006 percent of the cumulative net worth he flaunts.

This fund was named after the axiom by Bezos that aims to treat each day like it’s the very first day for business. The initiation of this fund was announced in the month of September with a commitment of $2 billion that shall consist of two segments. The first shall serve as a funding for homeless services while the other shall be dedicated to creation of “Montessori-inspired Preschools.”

This charitable gift by Bezos shall be split amidst 24 different organizations that are located in Washington, DC along with 16 states. There is no doubt to the fact that groups such as New York based Urban Resource Institute shall make proper use of this $5 million worth charitable funds. Amazon finalized the plans for creation of living quarters at affordable rates for the residents of New York. However, this might push several hundreds of the residents into homelessness.