Amazon's Jeff Bezos promises $10B to set up Earth Fund

Jeff Bezos, the CEO of the e-commerce giant Amazon, announced the launch of Bezos Earth Fund and promised $10 billion donation for fighting against climate change.

"I want to work alongside others both to amplify known ways and to explore new ways of fighting the devastating impact of climate change on this planet we all share," he said on Monday via Instagram.

His initiative will fund scientists, activists, non-governmental organizations, and other efforts for protecting the world's nature, Bezos said, stressing the Earth can be saved with a cooperation of companies, states, global organizations, and individuals.

He promised: "I’m committing $10 billion to start and will begin issuing grants this summer. Earth is the one thing we all have in common -- let’s protect it, together."

According to the U.S.-based Forbes magazine, Bezos is the richest person globally with a personal fortune of $131 billion.

His e-commerce firm Amazon is also the world's most valuable brand, with a $220.79 billion value, according to an independent business valuation consultancy firm, Brand Finance.