Twitter’s Jack Dorsey donates $1 billion towards COVID-19 relief efforts
The CEO of Twitter and Square, Jack Dorsey just announced that he will be donating a whopping $1 billion to help fund COVID-19 relief efforts. He also tweeted that the amount roughly equals about 28% of his net worth. The hefty sum will reportedly be funded by the tech entrepreneur’s Square shares.
As the funds are distributed to various relief efforts through the Start Small Foundation, Dorsey plans to offer full transparency of his donations by tracking them through a public Google document.
“I’m moving $1B of my Square equity (~28% of my wealth) to [Start Small] LLC to fund global COVID-19 relief. After we disarm this pandemic, the focus will shift to girl’s health and education, and UBI,” wrote Dorsey.
“Why pull just from Square and not Twitter? Simply: I own a lot more Square. And I’ll need to pace the sales over some time. The impact this money will have should benefit both companies over the long-term because it’s helping the people we want to serve,” he continued.