Twitter CEO Jack Dorsey donating $1bn from Square’s share of 28% of his personal wealth.
The funds will focus on girl’s health and education after the pandemic end
The largest single donation from an individual for coronavirus relief
An initiative founded by actor Leonardo DiCaprio
On 8 April Twitter co-founder and CEO Jack Dorsey announced to donate $1bn total (28% of his personal wealth) to coronavirus relief, he announced this on Twitter.
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
Dorsey co-founded Twitter in 2006 and also founded another company “Square” and from his square share, he is donating 28% of his total wealth which is approximately $1bn. he also mentioned that after the pandemic over we will shift our focus to girls’ health and education. he also shared a link to Google docs where people can track the amount and donate to American food funds the initiative co-founded by actor Leonardo DiCaprio. Jack revealing that his first $100,000 had been contributed to an initiative co-founded by Laurene Powell Jobs, the widow of Steve Jobs, and actor Leonardo DiCaprio.
Dorsey said ‘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.’
Thread By Twitter CEO:
Why UBI and girl’s health and education? I believe they represent the best long-term solutions to the existential problems facing the world. UBI is a great idea needing experimentation. Girl’s health and education is critical to balance: https://t.co/dC3dU6hvxB
Jack Dorsey said the fund will be shifted to girl’s education and health once the pandemic ends.
Why is #startsmall a LLC? This segments and dedicates my shares to these causes, and provides flexibility. Grants will be made from Start Small Foundation or the LLC directly based on the beneficiary org. All transfers, sales, and grants will be made public in tracking sheet.
Why the transparency? It’s important to show my work so I and others can learn. I’ve discovered and funded ($40mm) many orgs with proven impact and efficiency in the past, mostly anonymously. Going forward, all grants will be public. Suggestions welcome. Drop your cash app 😉
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.
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. ✌?