The Co-founder of San Francisco-based Twitter Transfers $1B in Stock to COVID-19 Relief
The first recipient will be America’s Food Fund.
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CategoryGiving Back, Makers + Entrepreneurs, Tech, Uncategorized
Jack Dorsey, co-founder of Twitter and founder of Square, Inc., will donate $1 billion of his Square stock to fund global relief efforts for the COVID-19 epidemic. According to The Mercury News, the stock represents about 28 percent of the entrepreneur’s net worth.
“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.”
“The St. Louis, Missouri, native is moving 19,833,400 shares of stock that are individually worth $50.31 to Start Small LLC, which will make grants to COVID-19-related relief efforts. Dorsey noted on Twitter that after ‘we disarm this pandemic, the focus will shift to girl’s health and education’ as well as universal basic income, which he called a great idea that needs experimentation.”
You can read more here.
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And most of the funding is coming from private sources.
