Jack Dorsey Tosses a Billion-Dollar Bankroll into the COVID Fight (and Keeps it All Transparent)
Why a Former Twitter Boss is Still a Money Magnet
It’s no surprise that Jack Dorsey now files his taxes, because he’s been snipping away at corporate crowns for ages. But on Tuesday, the man behind Twitter and Square decided to turn the spotlight on his riches in a big way.
- Jack pledged a US$1 billion (~SG$1.4 billion) stake in Square, his own payments company, to help fight the pandemic.
- The one‑third of his overall wealth that he’s donating is roughly 28 percent of what he’s worth.
- Instead of cash, he’s handing over shares, meaning he’ll gradually sell them over time.
All About the Charity
His charity fund, Start Small LLC, will now be a publicly documented entity; every donation in or out is open for the world to see. No more “private” whispers.
Start Small plans to focus on two bold missions:
- Universal Basic Income – giving everyone a bite of the financial safety net
- Girls’ Health & Education – putting women and girls at the front of the line
Why Square, Not Twitter?
Because his stake in Square is bigger than his holdings in Twitter. That’s the simple math behind the choice.
Corporate Side‑Story
While the United States brushes its nose off a whopping 380,000 COVID cases (with about 12,300 deaths), Jack’s donation is a deep‑cut response for the folks hit hardest.
Next Steps
Feel free to check out the latest updates on the virus – it’s all right there in the official channels.
