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Amazon is donating $690,000 to Australia's fire recovery. Does Jeff Bezos owe the world more?

Amazon founder and CEO Jeff Bezos (a.k.a. The Wealthiest Man to Ever Walk the Earth) has announced that his company (a.k.a. the Most Valuable Company to Ever Exist) will contribute $1 million Australian dollars in aid to Australia to assist with the country's bushfire recovery efforts. In U.S. dollars, that's approximately $690,000.

For sure, $690,000 is not a small amount of money, and every donation counts. But the announcement from Bezos has people expressing their not-so-charitable feelings about the mega rich man and his mega valuable company. And when you calculate what kind of an effect $690,000 has on Amazon's bottom line, it's not hard to see why.


We're about to get into some unreal numbers here, so it's worth doing a bit of a "How Much Is a Billion" review. Most of us don't have a good grasp on how much a billion is.



So now that we understand how bonkers a billion dollars is, how many billions is Amazon worth? Valuing a company isn't a straightforward endeavor, so estimates vary. Some market cap valuations have put Amazon's worth at $1 trillion. (That's a thousand billions, $1,000,000,000,000 if you really want to see the zeroes.) A much more conservative estimate puts the company's true net worth at less than a fifth of that, at $160 billion.

RELATED: The Truth Behind Amazon's Success? It's Kinda Evil.

Just for funsies, let's take a look at the math for both Amazon value extremes and compare it to the average American's charitable giving.

If Amazon is valued at $1 trillion, a donation of $690,000 would be .000069% of the company's worth. According to the Federal Reserve, the median net worth for American families is $97,000. So that means for the typical American, a donation equivalent to Amazon's would be less than 7 cents. Now, that's not nothing, right? But is that a donation people would feel good about announcing?

Now let's look at the more conservative estimate of $160 billion. In that case, a $690,000 donation would be .00043% of Amazon's worth. For the typical American household, that's the equivalent of giving…wait for it…42 cents. Again, is that a donation most of us would announce proudly?

Twitter users were quick to point out the relatively tiny donation from the world's most valuable company, especially compared to what several others whose net worths are far lower have donated. For example, the heavy metal group Metallica reportedly donated $750,000. Pop singer Pink has pledged $500,000 (and Bette Midler is matching it).


In turn, other Twitter users chided people for charity shaming, pointing out that Amazon didn't have to give anything, but did. And it's true. Giving is voluntary. (It's also true that charitable giving is a way for rich people to pay less in taxes, so giving isn't always about altruism.) But it's also all relative. For a person making minimum wage, even a few dollars is a huge sacrifice. Relative to total wealth, Amazon's donation is the sacrificial equivalent of a few coins of pocket change for most of us.

The debate boils down to whether or not someone with gargantuan amounts of extra money has some kind of obligation to society to share the wealth with those in need. And if so, how much of that wealth is a reasonable amount to expect? (For an interesting look at how much billionaires give compared to their wealth, check out this article.)

The guy who originally posted the Bezos story pointed out that if everyone on Twitter donated $2, they could beat Bezos' donation, but that suggestion seems to miss—or perhaps reinforce—the point. A $2 donation for the typical American would be the equivalent of more than $3 million for Amazon.

Good effort at rallying the 99.9%, though, man. But perhaps people can give their $2 andalso push for accountability for megabillionaires whose companies pay no taxes.

All images provided by Bombas

We can all be part of the giving movement

True

We all know that small acts of kindness can turn into something big, but does that apply to something as small as a pair of socks?

Yes, it turns out. More than you might think.

A fresh pair of socks is a simple comfort easily taken for granted for most, but for individuals experiencing homelessness—they are a rare commodity. Currently, more than 500,000 people in the U.S. are experiencing homelessness on any given night. Being unstably housed—whether that’s couch surfing, living on the streets, or somewhere in between—often means rarely taking your shoes off, walking for most if not all of the day, and having little access to laundry facilities. And since shelters are not able to provide pre-worn socks due to hygienic reasons, that very basic need is still not met, even if some help is provided. That’s why socks are the #1 most requested clothing item in shelters.

homelessness, bombasSocks are a simple comfort not everyone has access to

When the founders of Bombas, Dave Heath and Randy Goldberg, discovered this problem, they decided to be part of the solution. Using a One Purchased = One Donated business model, Bombas helps provide not only durable, high-quality socks, but also t-shirts and underwear (the top three most requested clothing items in shelters) to those in need nationwide. These meticulously designed donation products include added features intended to offer comfort, quality, and dignity to those experiencing homelessness.

Over the years, Bombas' mission has grown into an enormous movement, with more than 75 million items donated to date and a focus on providing support and visibility to the organizations and people that empower these donations. These are the incredible individuals who are doing the hard work to support those experiencing —or at risk of—homelessness in their communities every day.

Folks like Shirley Raines, creator of Beauty 2 The Streetz. Every Saturday, Raines and her team help those experiencing homelessness on Skid Row in Los Angeles “feel human” with free makeovers, haircuts, food, gift bags and (thanks to Bombas) fresh socks. 500 pairs, every week.

beauty 2 the streetz, skid row laRaines is out there helping people feel their beautiful best

Or Director of Step Forward David Pinson in Cincinnati, Ohio, who offers Bombas donations to those trying to recover from addiction. Launched in 2009, the Step Forward program encourages participation in community walking/running events in order to build confidence and discipline—two major keys to successful rehabilitation. For each marathon, runners are outfitted with special shirts, shoes—and yes, socks—to help make their goals more achievable.

step forward, helping homelessness, homeless non profitsRunning helps instill a sense of confidence and discipline—two key components of successful recovery

Help even reaches the Front Street Clinic of Juneau, Alaska, where Casey Ploof, APRN, and David Norris, RN give out free healthcare to those experiencing homelessness. Because it rains nearly 200 days a year there, it can be very common for people to get trench foot—a very serious condition that, when left untreated, can require amputation. Casey and Dave can help treat trench foot, but without fresh, clean socks, the condition returns. Luckily, their supply is abundant thanks to Bombas. As Casey shared, “people will walk across town and then walk from the valley just to come here to get more socks.”

step forward clinic, step forward alaska, homelessness alaskaWelcome to wild, beautiful and wet Alaska!

The Bombas Impact Report provides details on Bombas’s mission and is full of similar inspiring stories that show how the biggest acts of kindness can come from even the smallest packages. Since its inception in 2013, the company has built a network of over 3,500 Giving Partners in all 50 states, including shelters, nonprofits and community organizations dedicated to supporting our neighbors who are experiencing- or at risk- of homelessness.

Their success has proven that, yes, a simple pair of socks can be a helping hand, an important conversation starter and a link to humanity.

You can also be a part of the solution. Learn more and find the complete Bombas Impact Report by clicking here.

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