Photo credit: TED
Twitter CEO Jack Dorsey announced today that he will commit $1-billion of his own personal stock in Square, which represents 28% of his net worth, to fund global coronavirus relief efforts. For those interested, he’s also created a public tracking sheet to encourage transparency that will track exactly when the stock transfers / sales and the grants by Start Small LLC, are made. The first grantee to will be America’s Food Fund, which aims to provide funding relief to organizations working to feed the country’s most vulnerable populations impacted by COVID-19.
The Square founder is moving 19,833,400 shares of stock that are currently worth $50.25 to Start Small LLC, which is going to make grants to COVID-19-related relief efforts. Jack Dorsey also mentioned that once this pandemic ends, his focus will shift to girl’s health and education as well as a universal basic income. Track the spreadsheet here.
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Why now? 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,” said Dorsey in a Tweet.