Twitter’s Jack Dorsey Earmarks $1B in Square Stock for Coronavirus Relief
WITH A ‘B’
Jack Dorsey, co-founder of Twitter and financial processor Square, tweeted Tuesday that he would donate a billion dollars’ worth of stock in Square to relief from the new coronavirus, which has killed tens of thousands and devastated the economy of the United States and world at large. He said he would move the stock, equivalent to about 28 percent of his wealth, to a new philanthropic venture “#startsmall LLC.” Should the billion dollars outlast COVID-19, he’ll spend the money on girls’ education and universal basic income. “Why UBI and girl’s health and education? I believe they represent the best long-term solutions to the existential problems facing the world,” he wrote. “Why now? The needs are increasingly urgent, and I want to see the impact in my lifetime.” He added that he will track the donations dispersal in a Google spreadsheet he linked to in the announcement. One already appears: $100,000 to America's Food Fund, a celebrity fundraiser helping those going hungry because of the coronavirus.