Jack Dorsey donates $1bn of Square equity towards coronavirus fight

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You can't say that about a pledge that Twitter co-founder Jack Dorsey made on Tuesday, however, when he published a series of tweets explaining that he's giving away $1 billion of his $3.3 billion net worth (or, nearly 30% of it) in support of coronavirus relief. He's seeding the fund with $1 billion, roughly 28% of his wealth.

Dorsey said he wanted to donate to causes where he could see an impact in his lifetime.

"I hope this inspires others to do something similar", Dorsey said Tuesday in a tweet. "Life is too short, so let's do everything we can today to help people now".

In a series of follow-up tweets, Dorsey said "Why is #startsmall a LLC?"

At the time, he also committed to giving 40 million more of his shares in Square to Start Small.

Twitter founder Jack Dorsey has pledged $1bn (£810m) of his personal wealth to help fight the coronavirus pandemic.

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It's all presented in a stylistically unique, scrapbook-like way, so that it doesn't feel like yet another sterile messaging app. The app is now only available in United States of America and Canada, and only for iOS .

"I believe they represent the best long-term solutions to the existential problems facing the world".

The fund, named Start Small LLC, will initially focus on helping tackle the coronavirus pandemic. UBI is a great idea needing experimentation.

The information in this article is for educational and informational purposes only and is not intended as medical or health advice.

He said he chose to use his equity from the payments group because "I own a lot more Square".

US$100,000 of the money has so far been allocated to America's Food Fund, a food charity. "All transfers, sales, and grants will be made public in tracking sheet", he said. Also the co-founder and chief executive officer of Twitter Inc., he has a net worth of about $3.9 billion, according to the Bloomberg Billionaires Index.

The Twitter CEO's pledge is the largest amount donated by an individual.

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