(Raconteur)

Twitter and Square CEO Jack Dorsey announced yesterday that he is moving $1 billion of his Square equity into his Start Small LLC to help fund COVID-19. Dorsey clarified that the money moved towards his philanthropic company constitutes 28% of his wealth.

Prior to the announcement, Dorsey's Start Small fund was a donor-advised charitable fund that did not have to disclose where its donations were going. Dorsey announced he planned to change that and provided a Google spreadsheet which illustrates where money from the fund will be going. He also announced that after the pandemic is overcome, the Start Small fund will focus on Universal Basic Income and girl's health and education.

“Why now?" Dorsey tweeted. "The needs are increasingly urgent, and I want to see the impact in my lifetime. I hope this inspires others to do something similar. Life is too short, so let’s do everything we can today to help people now."

Dorsey's surprising announcement earned him a healthy amount of praise from notoriously antagonistic Twitter users. Many applauded Dorsey's large donation and noted that other multi-billionaires had given inadequately in comparison.


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Comments 2 total

Noside

I wonder where all the money goes or ends up? people are donating millions and it seems like nothing happens.

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