Amid the rising coronavirus COVID-19 cases in the USA, Twitter Chief Executive Officer Jack Dorsey on Tuesday (April 7) pledged $1 billion of his stake in Square Inc to help in the fight against the coronavirus pandemic. It is to be noted that Square Inc is a payments processor co-founded by Dorsey and he is currently the CEO of this firm
Amid the rising coronavirus COVID-19 cases in the USA, Twitter Chief Executive Officer Jack Dorsey on Tuesday (April 7) pledged $1 billion of his stake in Square Inc to help in the fight against the coronavirus pandemic. It is to be noted that Square Inc is a payments processor co-founded by Dorsey and he is currently the CEO of this firm.
In a series of tweets, the Twitter CEO said that he will donate about 28% of his wealth to his charity fund, Start Small LLC which would focus its attention to universal basic income and health and education of girls after defeating the coronavirus pandemic.
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: docs.google.com/spreadsheets/d…
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Notably, Dorsey has never spoken about the details of his charity activities but now he has revealed that all donations to and from the fund would now be visible to the public at all times through a public document.
According to Forbes, Dorsey's net worth is around USD 3.3 billion. Dorsey said that he decided to pledge his stake in Square and not Twitter because he owns a major stake in Square. The Twitter boss revealed that the sale of the pledged shares will take place in a phased manner.
The United States is facing a huge crisis as it reported a record daily figure of 1,939 deaths bringing up the total toll of COVID-19 positive deaths to 12,907, which is fast closing on tolls in the other worst-hit countries such as Italy and Spain.
As on Wednesday, the US has more cases than any other country, with over 399,081 people diagnosed with COVID-19, according to data compiled by the Center for Systems Science and Engineering at Johns Hopkins University.
With 5,489 deaths, New York reported the largest single-day jump on Tuesday. New York City remains the hotspot with 731 deaths new deaths on Tuesday.
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