The announcement came more than a year after Bezos asked his Twitter followers for ideas on how to give away his fortune, and on the heels of growing public criticism on his lack of philanthropic activities.
But philanthropic experts say the announcement — while a good start — still has many unanswered questions that need to be addressed as the world's richest person accelerates his plan to give back.
"The announcement answers the questions we had before about what the priorities are going to be," said Janet Camarena, director of transparency initiatives at Foundation Center, a nonprofit organization for philanthropy. "Now we're waiting for the next chapter to hear the details of how he's going to grow this."
Here are five of the most pressing questions about Bezos's new fund: