The CEO of Twitter and digital payments platform Square, Jack Dorsey, has announced a pledge to donate $1 billion worth of equity in Square to his Start Small LLC in order to provide COVID-19 relief globally. Dorsey, with a net worth of about $3.9 billion, made the announcement through a tweet, revealing his intention to donate $1 billion of Square shares to a charitable fund called Start Small with the goal of “fund[ing] global COVID-19 relief.”
This significant donation, which Dorsey described as equivalent to about “28% of my wealth,” marks an effort to contribute to the fight against the pandemic. Furthermore, his commitment to philanthropy extends beyond COVID-19 relief, with plans to focus on supporting girls’ health and education, as well as Universal Basic Income (UBI) once the pandemic is under control.
Dorsey’s tweet on the matter is available below:
“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: [check my tweet for more details]” – jack (@jack) April 7, 2020
Thus, through this substantial contribution, Dorsey aims to make a difference in the global efforts to combat the impact of COVID-19, as well as address broader societal issues such as girls’ health and education, and UBI.