Picture taken on April 20, 2018.
Within this, the "Day 1 Families Fund" will support existing non-profits that offer shelter and food to young homeless families.
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 world's richest man made the announcement on Twitter a year after he asked for ideas on how he could use his personal fortune - estimated to be about $163bn (£124.34bn) - for charitable efforts.
Launched in 1994 as an online bookseller, Amazon has become a retail powerhouse operating globally, and has expanded into streaming video, music, cloud computing and other segments, and a year ago acquired the Whole Foods grocery chain. 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. Bezos also plans to pay a visit to The Washington Post, which he owns.
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.
"He's a pretty unbelievable neighbour, him and [his wife] MacKenzie", said Mary's Place director Marty Hartman.
The announcement, made through a statement from Bezos, comes after the executive reached out a year ago to ask for suggestions on approaches to philanthropy.
Amazon is designating 47,000 square feet of space at its new corporate office for a permanent Mary's Place shelter.
In the education realm, Bezos is tipping his hat to the intensely private and media-shy Bezos Family Foundation that is run by his parents.
"Why am I wearing pajamas to an Amazon board meeting?"
"We will build an organisation to directly operate these schools".
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. In January, Bezos also personally gave $33 million USA in college scholarships for young immigrants living in the USA illegally.