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

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.

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

Best Buy: Preorder the Meta Quest 3

Get Asgard’s Wrath 2 free when you buy Meta Quest 3. Also, get a 6-month trial of a Meta Quest+ VR subscription when you purchase a 512GB headset. Act fast, limited-time offer.

Preorder Now

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.

Meet Therabody's All-New TheraFace Mask

TheraFace Mask is a breakthrough FDA-cleared LED skincare mask with added tension-relieving vibration therapy. Clinically proven results include firmer, smoother, healthier-looking skin with a visible reduction in fine lines, wrinkles, and uneven tone in as little as 8 weeks

Learn More

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:

• PSA: There’s a nasty Cash App scam on Twitter that is targeting folks affected by coronavirus
• Facebook, Twitter shut down a troll farm in Africa linked to Russian interference campaigns
• Twitter CEO Jack Dorsey crushes millions of dreams with one word regarding the edit button
• Instagram is testing desktop DMs with more users – here’s how to check if you have it

Joe Rice-Jones

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.