Jack Dorsey, co-founder and CEO of Twitter and digital payments platform Square has announced he will donate $1 billion worth of equity to fund COVID-19 relief efforts.
Dorsey, who has a net worth of about $3.9 billion made the announcement in a tweet, disclosing that he is donating the money to a charitable fund, called Start Small, to “fund global COVID-19 relief.”
The 43-year-old said the donation was equivalent to about “28% of my wealth.” He wrote:
” 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.”
“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.”
Jack Dorsey also said that he has previously donated $40 million to “many orgs with proven impact and efficiency in the past, mostly anonymously.”
He added that he is making this contributions public; because “it’s important to show my work so I and others can learn.”