The CEO of Twitter that is Jack Dorsey has been working on his finance-focused company Square Inc. since 2009 and now, just 11 years later, he is donating all of his shares.
Specifically, Jack Dorsey took to Twitter to announce that 20 million shares of the Square Inc. company are set to be donated to combat the COVID-19 virus. These shares currently translate into the hefty figure of $997,818,354, an amount that could go up or down depending on the market’s movements.
As for what it will go towards, $100,000 has already been set aside for the America’s Food Fund while the rest of the spending can be publically tracked via this Start Small spreadsheet. The overall figure makes up around 28% of his networth and anything that doesn’t get spent on fighting the Coronavirus will go towards girls’ health and education, no more specifics regaring the second cause have been announced.
“Why now?” Dorsey says, explaining that “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.”
Take a look at his tweet 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: https://t.co/hVkUczDQmz
— jack (@jack) April 7, 2020
