Jack Dorsey Donating $1 Billion of His Equity in Square to COVID-19 Relief Efforts
Dorsey said that “After we disarm this pandemic,” the focus of the fund will shift to two other causes: girl’s health and education and universal basic income . That’s because “I believe they represent the best long-term solutions to the existential problems facing the world,” he wrote. “UBI is a great idea needing experimentation. Girl’s health and education is critical to balance.”
Dorsey also explained that he is tapping into his Square holdings because “I own a lot more Square” than Twitter equity, and that he will need to pace sales of the stock “over some time.” He added, “The impact this money will have should benefit both companies over the long-term because it’s helping the people we want to serve.”
According to Dorsey, he has previously donated $40 million to “many orgs with proven impact and efficiency in the past, mostly anonymously” but said he is making his contributions public because, “It’s important to show my work so I and others can learn.” Dorsey’s dual-CEO status has raised questions among investors about how effectively he’s able to lead Twitter and Square simultaneously. In March,— which reportedly had been looking to oust Dorsey — under which Dorsey remained chief exec of the social network. In addition, private-equity firm Silver Lake invested $1 billion in Twitter, while Twitter also appointed Elliott and Silver Lake execs to its board.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Twitter CEO Jack Dorsey donating $1 billion to coronavirus reliefNEW: Jack Dorsey: 'I’m moving $1B of my Square equity (~28% of my wealth) to startsmall LLC to fund global COVID-19 relief.'
Read more »
Twitter CEO Jack Dorsey to Donate $1 Billion Of His Wealth to COVID-19 ReliefTwitter's CEO just one-upped every bigwig's coronavirus donation by A LOT.
Read more »
Twitter CEO sets aside $1 billion in Square equity for charity, coronavirus reliefSquare and Twitter CEO Jack Dorsey has said he is donating $1 billion in Square equity to support relief efforts for the COVID-19 efforts.
Read more »
Jack Dorsey Pledges $1 Billion To Fight CoronavirusTwitter CEO Jack Dorsey plans to donate $1 billion to fight the coronavirus outbreak—the largest pledged gift by a private individual yet during the pandemic by abebrown716
Read more »
Only 1 person per 120 square feet: Kroger to limit shoppers entering stores due to COVID-19 concernsKroger said Ohio stores will post limits on the number of shoppers permitted inside stores at a given time to prevent the spread of coronavirus.
Read more »
Twitter CEO sets aside $1 billion in Square equity for charity, coronavirus reliefSquare and Twitter CEO Jack Dorsey has said he is donating $1 billion in Square equity to support relief efforts for the COVID-19 efforts.
Read more »