Read more: How the world's richest man spends his money
The Washington Post, which is owned by Bezos, reports that the scholarship has awared more than US$19m ($26.1m) to more than 1,700 immigrants since 2014, when it began.
U.S. President Donald Trump on Wednesday blasted the federal court system as "broken and unfair" after a judge blocked his administration's move to end the DACA program.
And Trump has been placed on the defensive about his comment during an Oval Office meeting that people from "high crime" or "s***hole countries get to come" to the United States.
The president has denied making the "s***hole" comment.
"The language used by me at the DACA meeting was tough, but this was not the language used," Trump said, using unusually passive language in an effort to walk back the comment.
"What was really tough was the outlandish proposal made - a big setback for DACA!" Trump tweeted Friday.
The president's latest comments were immediately contradicted by Illinois Democratic Senator Richard Durbin, who was in the Oval Office meeting and says Trump made the "vile and vulgar" comments repeatedly.
Trump is attempting to phase out DACA by March and Democrats are currently fighting to preserve it.
Bezos' parents, Mike and Jackie Bezos, were among the early donors to TheDream.US. The Bill and Melinda Gates Foundation, Pershing Square Foundation and Chan Zuckerberg Initiative are also among the other major contributors to the program.