Twitter CEO sets aside $1 billion in Square equity for charity, coronavirus relief

[tacobell fan]

Square and Twitter CEO Jack Dorsey has said he is donating $1 billion of his wealth to support relief efforts for the COVID-19 efforts. 

“I’m moving $1B of my Square equity (~28% of my wealth) to #startsmall LLC to fund global COVID-19 relief,” Dorsey said on Twitter. “After we disarm this pandemic, the focus will shift to girl’s health and education, and UBI.”

“Why pull just from Square and not Twitter? Simply: I own a lot more Square,” he said. “And I’ll need to pace the sales over some time. The impact this money will have should benefit both companies over the long-term because it’s helping the people we want to serve.”

In the aftermath of the pandemic, Dorsey said he would dedicate the remaining funds to a campaign to promote universal basic income (UBI) and to girls’ health. 

[sri_india]

@manchodu