Bezos Discusses Philanthropy During CNBC Interview

Jeff Bezos said during a CNBC interview that the value of his for-profit companies to society would exceed the impact of his charitable giving. The remarks represented a shift from earlier statements in which he pledged to give away the majority of his fortune. The comments drew attention to how technology billionaires may direct their wealth in the coming years.

A Stripe executive wrote in an essay this week that a new wave of philanthropy could resemble 19th-century industrial giving more than recent metrics-driven approaches. The executive noted that earlier tech philanthropy had not focused on questions of civilizational flourishing or what makes a good life.

Instead, she said, decisions may increasingly rely on subjective judgment rather than strict measurement.

AI developments are creating new concentrations of wealth, and decisions about how that wealth is used could affect large-scale projects and institutions.