Twitter CEO, Jack Dorsey pledges $1 billion in Square stake for coronavirus relief

Jack Dorsey, the CEO of Twitter and digital payments platform Square has announced he will donate $1 billion worth of equity in Square to his Start Small LLC to fund COVID-19 relief around the world.

Dorsey, who has a net worth of about $3.9 billion made the announcement in a tweet, disclosing that he is donating $1bn of Square shares to a charitable fund, called Start Small, to “fund global COVID-19 relief”.

The 43-year-old said the donation was equivalent to about “28% of my wealth”.

He wrote: "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."

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