On Twitter, he posted a screenshot of an announcement pledging to donate $2 billion to fund "existing non-profits that help homeless families, and [create] a network of new, non-profit, tier-one preschools in low-income communities".
Bezos, with an estimated fortune of more than $160 billion, is now the world's wealthiest man, according to Forbes.
Amazon CEO Jeff Bezos is the richest man in the world by an astronomical margin. Most important among those will be genuine, intense customer obsession.
Mr Bezos - reportedly worth more than $164bn - has faced criticism for not doing more philanthropic work. Since March 2016, Amazon customers have also been able to order items from the Mary's Place's wishlist on the site, such as diapers and socks.
Seattle, where Amazon has its headquarters, has been plagued by the rising number of homeless residents for the past several years.
The fund will also launch a network of "full scholarship" preschools based in underserved communities.
According to the research firm eMarketer, Amazon's e-commerce revenue will grow more than 28 percent this year to reach $394 billion, and will account for 49 percent of U.S. online retail sales and almost five percent of all retail spending.
Trend Micro Apps Leak User Data, Removed from Mac App Store
Researchers noted that insecure applications appeared to be repeatedly getting around Apple's vetting process for the App Store. By accessing the home directory, they were then able to gain access to information about users' browsing history, and more.
Nintendo Direct Rescheduled, Switch Online Launches September 18
There's also a family membership option which costs $34.99 per year and allows up to 8 accounts to be connected. I'm not actually excited for Switch Online at all so far, but I also don't play any video games online.
Andrew Cuomo, Cynthia Nixon face off in NY gubernatorial primary
The former Sex and the City star ran against Cuomo on a progressive platform and called him out on his leadership and record. After Minaj endorsed Cuomo and his slate, Cardi B threw her support behind Nixon and Williams in an Instagram post .
Until now, Bezos, 54, had only taken small steps into philanthropy.
More than a year after putting out an open call for suggestions about what to do with his spectacular wealth, Jeff Bezos has come back with a decision.
Mr Bezos solicited ideas on Twitter a year ago for ways to donate some of his wealth. Outside of that, Bezos and his family's known donations have included gifts to Princeton University and Seattle's Fred Hutchinson Cancer Research Center, according to the Chronicle of Philanthropy.
"We will build an organization to directly operate these schools", he added.
Some 184 of the world's wealthiest individuals and families, including Tesla's Elon Musk and the co-founders of Airbnb have joined The Giving Pledge, a commitment started by Gates and Buffett to give away at least half their wealth.
Despite his concerns with Trump, Bezos said that he was not overly concerned about the future of the news media. Some activists and politicians have partly blamed the city's problems on Amazon.