Twitter founder Jack Dorsey commits $1 billion to fight coronavirus pandemic

Marco Green
April 8, 2020

The first donation disclosed on the document reveals that the Start Small LLC donated $100,000 to America's Food Fund, a service that will donate meals to families that have lost income during the global economic shutdown.

Jack Dorsey will spend his money on girls ' education and health and a basic income for all.

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Jack Dorsey is using his substantial wealth to help tackle the coronavirus pandemic.

Jack Dorsey, CEO of Twitter and digital payments platform Square, said Tuesday that he will donate $ 1 billion worth of Square to his Start Small Foundation to fund COVID-19 relief worldwide. The donation equates to almost 28 percent of his wealth.

"Why UBI and girl's health and education?"

He said he believes girls' health and education and a UBI are the best long-term answers to the "existential problems" the world faces.

- It is a great idea that must be tested. "I'll need to pace the sales over some time". In 2015, shortly after Twitter cut roughly 8% of its employees, Dorsey said he was donating nearly $200 million in Twitter stock back to the employee grant pool.

"Why the transparency? It's important to show my work so I and others can learn".

Most notably, every step along the way will apparently be detailed in a publicly available Google spreadsheet.

"Why now? The needs are increasingly urgent, and I want to see the impact in my lifetime", Dorsey said in a follow-up tweet.

Mr Dorsey will use shares he owns in Square to fund the donations which will be distributed through the Start Small Foundation. "Suggestions welcome. Drop your cash app", he added. "We'll decline to comment on other procedural details at this time". He expressed hopes that this move would inspire others to follow his example.

"Life is too short, so let's do everything we can today to help people now", said the Square, Inc. CEO.

Other reports by Click Lancashire

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