Twitter Inc Chief Executive Officer Jack Dorsey on Tuesday pledged $1 billion of his stake in Square Inc, the payments processor that he co-founded and heads, to help fund relief efforts related to the coronavirus pandemic.
In a series of tweets, Dorsey said the amount, representing about 28% of his wealth, will be donated to his charity fund, Start Small LLC, which would later focus its attention to universal basic income and girls’ health and education.
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
— jack (@jack) April 7, 2020