Amazon founder Jeff Bezos has said he plans to donate most of his $124 billion fortune during his lifetime.
The businessman told CNN that he intends to donate his wealth to combat climate change and reduce inequality.
Bezos has previously been criticized for not promising to dedicate his fortune to charity.
Investor Warren Buffett, Microsoft founder Bill Gates, and Bezos’ ex-wife Mackenzie Scott all pledged to part with their wealth.
Bezos revealed his plans after he donated $100 million to music star and philanthropist Dolly Parton for charity.
“Yes, I will,” Bezos said when asked by CNN if he intended to give away most of his wealth during his lifetime.
He declined to give details of where the money was spent or donated, but said, “The hard part is figuring out how to do it in a foolproof way.”
He added that he and his partner, Lauren Sanchez, are “building the capacity to donate these funds.”
The billionaire previously pledged $10 billion to the Bezos Earth Fund, which he launched in 2020 to help tackle climate change.
The move came after Bezos and other entrepreneurs came under fire for spending huge sums of money on space trips, rather than solving problems on the ground. Amazon has also been criticized in the past by its workers for its record on climate change.
Bezos became one of the richest people on the planet after Amazon, the online retailer he founded in 1994, became a global phenomenon.
He stepped down as CEO of Amazon in 2021 but remains its chairman. He also owns The Washington Post and space tourism company Blue Origin.
On Sunday, Bezos awarded Dolly Parton with the “Bezos Award for Courage and Grace,” which honors leaders who “pursue solutions with courage and grace.”
Parton, who has supported causes such as child literacy, will be able to donate money to charities of her choice.
“We couldn’t think of a better person to give this award to, and we know she’s going to do amazing things with it,” Sanchez told CNN.
In a video of the party posted online, Parton said, “Wow! Did you say $100 million?”
“I will do my best to do good things with this money,” she added.
Bezos launched the award in 2021, with prizes awarded to activist Van Jones and philanthropic chef Jose Andres, who founded World Central Kitchen, which provides food in affected countries.
Parton, a singer-songwriter, actress, businesswoman and philanthropist, was inducted into the Rock and Roll Hall of Fame earlier this month.
She was a major supporter of charities and founded the Dollywood Foundation, which has provided children’s books around the world.