The New York City mayor who's railed against billionaires just got a nine-figure assist from two of them. Robin Hood, the Wall Street-backed anti-poverty nonprofit, says Jeff Bezos' parents, Jacklyn and Miguel Bezos, have given $100 million to create the Jackie Bezos Endowment for Early Childhood, plus a $25 million match pledge, which could raise the gift to $150 million, Fortune reports. The donation will back early education and development programs and dovetails with Mayor Zohran Mamdani's push for free early child education and care. City Hall framed the gift as one piece of a broader coalition—government, philanthropy, labor, and families—needed to deliver citywide child care.
The source of the funds is notable given Mamdani's frequent criticism of the ultrawealthy and his proposed tax on luxury second homes that sparked friction with hedge fund billionaire Ken Griffin, a major Robin Hood donor. Still, he's been working with Robin Hood, which funds more than 300 nonprofits citywide, on universal child care initiatives. The organization "has so much money that it could be difficult for City Hall not to work with the charity," the New York Times reports. While it's unclear how exactly the gift will be used, Robin Hood CEO Richard R. Buery Jr., says it will help "stabilize" the city's child care system. The donation lands as Mamdani claims to have closed the city's $12 billion budget gap, even with nearly $60 million for child care and K-12 support.
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