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\u2019s Square shares.<\/p>\n
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.<\/p>\n
\u201cI\u2019m 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\u2019s health and education, and UBI,\u201d wrote Dorsey.<\/p>\n
\u201cWhy pull just from Square and not Twitter? Simply: I own a lot more Square. And I\u2019ll need to pace the sales over some time. The impact this money will have should benefit both companies over the long-term because it\u2019s helping the people we want to serve,\u201d he continued.<\/p>\n