Bezos and his wife, MacKenzie, pledged $US2 billion on Thursday for a new fund to start preschools and help homeless families.
Last year, Bezos took to Twitter to request ideas for how he use his vast fortune for good.
Along with running Amazon the tech mogul owns space exploration company Blue Origin and the Washington Post newspaper.
The $2 billion is, as best we can tell, to be divided between the Day 1 Families Fun and the Day 1 Academies Fund, which will provide homeless services and operate "Montessori-inspired preschools", respectively.
Despite his fortune, Bezos has not been a major philanthropic donor and Amazon has been criticized in its home of Seattle, Washington, for doing little to address problems of the growing homeless population.
The comments appeared to be the first direct, public rebuke of Mr Trump by Mr Bezos, a frequent target of attacks by the President. We're going to be obsessively, compulsively focused on the child.
The second will launch a network of "high-quality, full-scholarship" preschools in low-income communities, which a Day One Fund organization will directly operate.
The private non-profit foundation in its 2016 tax filing reported almost $46 million U.S. in assets, and giving away $30 million USA in grants support its missions in early education, K-12 schools reform and youth leadership development and scholarships. "It's okay. It's part of the process", Bezos said. After discussing the success of the Washington Post, which Bezos bought in 2013, Rubinstein asked how Bezos responds to criticism - some of which comes from Trump's Twitter feed - of Amazon and the Post.
Trump has described The Washington Post as Amazon's "chief lobbyist".
Philanthropy experts called Bezos' approach direct and pragmatic, but said its success would depend largely on how the money was allocated and how willing the billionaire was to make changes along the way. "Most important of those will be genuine, intense customer obsession".
"The customer is going to be the child", Bezos said.
Jeff Bezos, the founder and CEO of Amazon, just made a long-awaited announcement about what philanthropic causes would benefit from his enormous fortune - which has doubled in one year and is now estimated at more than $160 billion.
More than a year after putting out an open call for suggestions about what to do with his spectacular wealth, Jeff Bezos has come back with a decision.