Connect with us

Social

Twitter CEO Jack Dorsey will donate $1 billion to COVID-19 relief and other charities

Solid move from Dorsey.

Jack dorsey of twitter
Image: Reboot

CEO of both Twitter and Square, Jack Dorsey, is donating $1 billion of his equity in Square to fund COVID-19 relief around the world. Once the pandemic is over, the fund, which resides in his Start Small LLC, will shift focus to “girl’s health and education, and UBI.”

That puts almost a third of his wealth into the fund, which will be publicly tracked so all of its investments will be out in the open. That’s a power move for transparency in charitable giving, where usually donor-advised funds don’t have to disclose any of their outgoing cash.

Dorsey wants to see the impact of his cash in his lifetime, which to me reads like this won’t be the last time he divests stock to fuel philanthropic aims. He also hopes that this inspires others in similar positions of wealth to use their cash for the benefit of humanity.

He’s not alone in that sentiment, with other big tech moguls also throwing cash at the coronavirus problem. Bill Gates is spending billions through his foundation to find a vaccine for the virus. Mark Zuckerberg of Facebook fame donated $25 million to the Center for Disease Control Foundation, and Jeff Bezos of Amazon is donating $100 million to food banks.

Glad to see Dorsey doing this? Should other tech founders be doing the same? Let us know down below in the comments or carry the discussion over to our Twitter or Facebook.

Editors’ Recommendations:

Follow us on Flipboard, Google News, or Apple News

Maker, meme-r, and unabashed geek with nearly half a decade of blogging experience. If it runs on electricity (or even if it doesn't), Joe probably has one around his office somewhere. His hobbies include photography, animation, and hoarding Reddit gold.

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Deals of the Day

  1. Paramount+: Live Sports Starting at $2.50/mo. for 12 Mos. Sports - Try It Free w/ code: SPORTS
  2. Save $20 on a Microsoft365 subscription at Best Buy with a Best Buy Membership!
  3. Try Apple TV+ for FREE and watch all the Apple Originals
  4. Save $300 on a Segway at Best Buy, now $699

More in Social