Jeff Bezos donates nearly $120 mn to nonprofit: Report

San Francisco, May 8 (SocialNews.XYZ) Tech giant Amazon's founder Jeff Bezos has donated $118 million to a nonprofit, but it is unclear to which nonprofit he donated, media report said.

According to a Securities and Exchange Filings (SEC) filing, Bezos transferred 47,727 shares of Amazon stock to an unnamed nonprofit, worth a total of $118 million based on that day's closing stock price, reports Forbes.

Bezos does most of his philanthropy through gifts of Amazon shares, which the receiving nonprofit is allowed to sell without paying capital gains taxes.

Since the beginning of this year, Bezos has gifted 84,030 Amazon shares worth $233 million to unnamed nonprofits, according to SEC filings.

A spokesperson for Bezos did not immediately respond to a request for comment from Forbes about the donation.

Bezos is not required to disclose which nonprofits receive his shares, though he tends to publicly announce his large donations sometime after he has transferred the stock, the report said.

Bezos has made a smattering of $100 million donations in recent years as he's stepped up his philanthropy.

In 2021 alone, he gave $100 million to former President Barack Obama's Foundation, as well as to World Central Kitchen's chef Jose Andres and nonprofit founder Van Jones to give to charities of their choice.

And he made a $200 million pledge to the Smithsonian's Air and Space Museum last July, just days before he blasted off into space on his Blue Origin rocket. He has also been giving away $100 million per year to organisations helping homeless families as part of his Day One Fund initiative.

Source: IANS