Amazon founder and soon-to-be-space traveler Jeff Bezos is donating $200 million to the Smithsonian Institution to boost its National Air and Space Museum, the largest gift received by the institution since its founding in 1846.

The Smithsonian said $70 million of the money would support museum renovations. The other $130 million would go toward building a new education center at the museum called the Bezos Learning Center to inspire students to promote innovation and explore careers in science, math and engineering.

“This historic gift will help the Smithsonian achieve its goal of reaching every classroom in America by creating a world-class learning center with access and inspiration at its heart,” said Smithsonian Secretary Lonnie Bunch.

The donation comes as the richest man in the world by Forbes’ estimate prepares to fulfill his childhood dream of traveling to space. Bezos, 57, will blast into space on July 20 when his space exploration company Blue Origin makes its first flight with a crew. He'll be bringing along his younger brother Mark, an investor and volunteer firefighter.

Bezos, a past contributor to Smithsonian museums, said in a statement that he wanted to support the Smithsonian’s “vital role in igniting the imaginations of our future builders and dreamers.”

“Every child is born with great potential, and it’s inspiration that unlocks that potential," he said. "My love affair with science, invention and space did that for me, and I hope this gift does that for others.”

The Air and Space Museum on the National Mall has been undergoing major renovations since 2018. It remains closed and is scheduled to reopen on July 30.

“At this moment, the first human to set foot on Mars might be in elementary school,” said Ellen Stofan, the Smithsonian’s under secretary for science and research and former director of the National Air and Space Museum. “As the largest and most visited aerospace museum in the world, the museum wants to spark that passion and enrich the imagination and ingenuity of every student who visits the Smithsonian.”

Bezos stepped down as Amazon CEO this month. In a blog post to employees earlier this year, Bezos said he planned to devote more time to side projects, including Blue Origin, his philanthropic initiatives and overseeing The Washington Post, which he owns.

Share:
More In Business
Survey: Americans Are More Worried About Credit Access
Americans said credit was harder to access last month, according to a survey from the New York branch of the Federal Reserve. The March Survey of Consumer Expectations found that “respondents were more pessimistic about future credit availability as well, with the share of households expecting it will be harder to obtain credit a year from now also rising.”
The Day Ahead: Earnings, Fed Minutes
Cheddar News breaks down what to expect on The Day Ahead, as earnings from Albertsons and Carmax are on tap to be released while Fed minutes are due on Wednesday ahead of its meeting next month.
What to Know About Tax Extensions
Karla Dennis, CEO and founder of Karla Dennis & Associates Inc., joined Cheddar News to explain what's needed in order to file for a tax extension and avoid penalties.
Irrigreen CEO Discusses Company's Smart Robotic Sprinkler System
Irrigreen, an irrigation system startup that develops robotic sprinkler systems for homeowners and recently, recently secured $15 million in seed funding. Shane Dyer, CEO and co-founder of Irrigreen, joined Cheddar News to explain the benefits of the company's system that saves water with less equipment.
What to Expect in the Market Ahead of This Week's Economic Data
Stocks closed mixed ahead of the release of more economic data. Matthew Johnson, president of Johnson Wealth & Income Management, joined Cheddar News to also weigh in on last week's jobs data and the status of the country's labor market and what that could mean for another Fed decision.
Load More