Jack Dorsey, co-founder and CEO of Twitter, an American microblogging platform, says he is donating $1 billion of his equity in Square to fund COVID-19 relief efforts.

Dorsey, who has a net worth of about $3.3 billion, according to Forbes, took to his personal Twitter page on Tuesday to announce the staggering amount.

The 43-year-old said the money, representing about 28% of his wealth, will be donated to the Start Small Foundation, a donor-advised fund through the Silicon Valley Community Foundation.

He added that should the money go beyond COVID-19, he’ll spend the rest on girls’ education and universal basic income (UBI).

“I’m moving $1B of my Square equity (~28% of my wealth) to #startsmall LLC to fund global COVID-19 relief. After we disarm this pandemic, the focus will shift to girl’s health and education, and UBI,” he wrote.

“It will operate transparently, all flows tracked here:

“Why now? The needs are increasingly urgent, and I want to see the impact in my lifetime.

“I hope this inspires others to do something similar. Life is too short, so let’s do everything we can today to help people now.”

Dorsey also said that he has previously donated $40 million to “many orgs with proven impact and efficiency in the past, mostly anonymously”, adding that he is making this contributions public because “it’s important to show my work so I and others can learn.”



Copyright 2020 TheCable. All rights reserved. This material, and other digital content on this website, may not be reproduced, published, broadcast, rewritten or redistributed in whole or in part without prior express written permission from TheCable.

Follow us on twitter @Thecablestyle