Jack Dorsey Donates $1 Billion to Fund COVID-19 Relief
Twitter and Square CEO, Jack Dorsey donates $1 billion worth of equity in Square to his Start Small LLC to fund global COVID-19 relief.
As Dorsey announced on his official Twitter account, 28% of his current net worth will be used to fight COVID-19 pandemic around the globe.
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: https://t.co/hVkUczDQmz
— jack (@jack) April 7, 2020
Initially, Start Small will aim to fight the global pandemic. Later, after defusing the pandemic, the fund will switch the focus to providing money for girl’s health, education and universal basic income (UBI) initiatives.
Talking about why UBI, Twitter CEO said that it’s a “great idea”, noting: “I believe they represent the best long-term solutions to the existential problems facing the world. Girl’s health and education is critical to balance”.
Dorsey also stated that all the funding will be transparent, mentioning: ” 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. ”
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