The "Bezos Day One Fund" created by Bezos and his wife MacKenzie will focus on two areas: helping "existing nonprofits that help homeless families" and funding "a network of new, nonprofit, tier-one preschools in low-income communities", he wrote. "If our own great grandchildren don't have lives better than ours, something has gone very wrong".
Mr Bezos asked on Twitter last year for suggestions on how he might use his personal fortune, which this year has soared due to Amazon's surging share price and U.S. tax cuts. After discussing the success of the Washington Post, which Bezos bought in 2013, Rubinstein asked how Bezos responds to criticism - some of which comes from Trump's Twitter feed - of Amazon and the Post.
The new philanthropic effort is called the Bezos Day One Fund, a nod to the executive's management philosophy that organisations must view every day with the fervour of a new start, or face stagnation and decline.More news: Jurgen Klopp fires back at Gary Neville
The fight soured many more locals on Amazon and Bezos, and also overshadowed the growing portfolio of philanthropy they had done in the city.
"All big institutions of any kind are going to be and should be examined, scrutinized and inspected", he said.
Bezos asked for suggestions for philanthropic focuses in a tweet previous year. "It's okay. It's part of the process", Bezos said.
His private ownership of The Washington Post, which has published articles critical of the White House, has also put him at odds with US President Donald Trump. "We're going to push through this".More news: Trump denies 3,000 Puerto Ricans died due to Hurricane Maria, blames Democrats
A picture shared by Amazon chief Jeff Bezos on Instagram. "Most important of those will be genuine, intense customer obsession".
Earlier this month, US Democratic senator Bernie Sanders proposed a bill in Congress called the "Stop BEZOS" Act, which would make large corporations pay workers more or pay for public assistance programs such as Medicaid.
Bezos, who Forbes lists as the richest person in the world with a net worth over $100 billion, went on to say that the overall health of the media in the USA would be "fine", and would survive Trump's consistent criticism and cries of "fake news".
Many Twitter users agreed with that reasoning. "If billionaires like Bezos were properly taxed then we wouldn't need billionaires like Bezos to sweep in and "rescue" people failed by our underfunded systems," one wrote.More news: Roxanne Pallett will return to TV on 'Celebrity Coach Trip' revival