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.
The Day 1 Families Fund will issue annual leadership awards to organizations and civic groups doing compassionate, needle-moving work to provide shelter and hunger support to address the immediate needs of young families.
He said: "We'll use the same set of principles that have driven Amazon". "Most important of those will be genuine, intense customer obsession".
Bezos and Amazon's board of directors are convening in Washington, D.C., this week ahead of a series of high-profile appearances for Bezos, who also is the owner of the Washington Post, among other personal properties.
Mr Bezos solicited ideas on Twitter a year ago for ways to donate some of his wealth. In the summer of 2017, Bezos tweeted a request from the masses for philanthropic ideas "at the intersection of urgent need and lasting impact".
How does Jeff Bezos, the richest person alive, spend his billions? When Seattle passed a tax in May on large companies to fight the city's growing homelessness crisis, Amazon balked and even temporarily halted construction planning on a new high-rise building near its headquarters.
Outside that, Bezos and his family's known donations have included gifts to Princeton University and Seattle's Fred Hutchinson Cancer Research Centre, according to the Chronicle of Philanthropy.
It also falls short of the "giving pledge" initiative launched by Gates and billionaire investor Warren Buffett, who have encouraged wealthy individuals to pledge half their fortunes for philanthropy.
Zuckerberg, 34, and his wife Priscilla Chan said in 2015 that they planned to give away 99 per cent of their Facebook stock. While his and Amazon investors' wealth increases-and the company's market capitalization approaches $1 trillion-what makes the business so efficient is that relies on automation and low-priced labor.
Amazon has a history of supporting homeless programs in Seattle. Earlier this year, the company partnered with the Seattle nonprofit Mary's Place to build a permanent homeless shelter in its headquarters.