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Twitter’s Jack Dorsey Donates $1B in Square Stock to Coronavirus Relief

By kmvq on April 8, 2020
LAS VEGAS, NEVADA – JANUARY 09: Twitter CEO Jack Dorsey speaks during a press event at CES 2019 at the Aria Resort & Casino on January 9, 2019 in Las Vegas, Nevada. CES, the world’s largest annual consumer technology trade show, runs through January 11 and features about 4,500 exhibitors showing off their latest products and services to more than 180,000 attendees. (Photo by David Becker/Getty Images)

Twitter founder Jack Dorsey announced in a tweet Tuesday that he was donating $1 billion of stock in his financial processor Square, to help with coronavirus relief, The Daily Beast reports.

Dorsey wrote “I’m moving $1B of my Square equity (~28 percent of my wealth) to #startsmall LLC to fund global COVID-19 relief.” Dorsey also said that should the funds outlast the pandemic, then the remainder will go towards girl’s health and education, and universal basic income.

The donation will also “operate transparently,” and dispersal of it will be tracked on a public Google spreadsheet. In fact, one dispersal has already been added, a $100,000 donation to America’s Food Fund, a celebrity fundraiser helping those going hungry because of the coronavirus.