Jack Dorsey Square Coronavirus

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Jack Dorsey is donating nearly a third of his net worth to fight coronavirus

Dorsey said after the pandemic, the money will shift toward girls' health and education and UBI.

 

Andrew Wyrich

Tech

Published Apr 7, 2020   Updated Apr 7, 2020, 4:24 pm CDT

Twitter and Square CEO Jack Dorsey said on Tuesday that he is donating $1 billion in equity from Square toward coronavirus relief around the world.

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CORONAVIRUS PANDEMIC

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Dorsey made the announcement in a tweet on Tuesday afternoon, adding that after “we disarm this pandemic,” the money will go toward “girls’ health and education,” and universal basic income.

“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 girls’ health and education, and UBI. It will operate transparently, all flows tracked here,” Dorsey tweeted, adding a link to a Google Doc that he said will track the funds.

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In a series of subsequent tweets, Dorsey explained his decision.

“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,” the Square and Twitter CEO continued in a Twitter thread.

Several other big tech companies have also offered donations to combat coronavirus, though less large as Dorsey’s.

Apple said it has donated $15 million worldwide; Facebook CEO Mark Zuckerberg’s foundation, which he founded with his wife Priscilla Chan, is sending $25 million to Bill Gates’ foundation to develop a treatment; and Amazon CEO Jeff Bezos announced he would donate $100 million to help food banks amid the coronavirus emergency.

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*First Published: Apr 7, 2020, 4:16 pm CDT