Jeff Bezos says he’ll donate bulk of $124B fortune, advises Americans ‘take risk off the table’
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Jeff Bezos declared he plans to donate most of his $124B wealth to charity even as he warned that individuals should âkeep some dry powder on handâ against a deteriorating macro backdrop.
The fourth richest man in the worldâs affirmative response to a question about donating the bulk of his sizable fortune grabbed headlines across the globe on Monday, marking the first time Bezos has made such a pledge. Bezos had previously been roundly criticized for failing to sign The Giving Pledge, an initiative started by Warren Buffett and Bill Gates whereby affluent individuals promise to donate a majority of their wealth. MacKenzie Scott, Bezosâ ex-wife, signed the pledge in 2019. 
Elsewhere, Bezos offered general advice on risk management to reinforce his âbatten down the hatchesâ tweet in mid-October.
The former Amazon (NASDAQ:AMZN) CEO said that Americans should work to build a safety cushion for themselves in general, not only in investments, as macroeconomic conditions deteriorate. Overall, he offered general advice to hope for the best, but prepare for the worst given the slew of major layoffs (including at Amazon) rolling through the market and general slowing evident in the overall economy.
âI donât know whether weâre technically in a recession, economists argue over that and they have technical definitions, what I can tell you is that the economy does not look great right now,â he told CNN. âThe probabilities say that if we are not in a recession now, we are likely to be in one soon. My advice to people is to take some risk off the table right now.â
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