New Delhi (NVI): Jack Dorsey, Twitter’s Chief Executive Officer, will donate USD 1 billion of his stake in Square Inc to relief fund, related to the COVID-19 pandemic.
In a tweet, Dorsey said that the donation equates to nearly 28 per cent of his wealth, which will be donated to his charity fund, Start Small LLC, which would later focus its attention to universal basic income and girls health and education.
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: https://t.co/hVkUczDQmz
— jack (@jack) April 7, 2020
Dorsey, has for years kept details of his charitable efforts private, added that all donations to and from the fund would now be visible to the public at all times through a public document, according to the media reports.
He said that he was pledging his stake in Square instead of Twitter because he owns a bigger portion of the payments processor and would pace the sale of the pledged shares over time.
It is so far the biggest single donation to the global fight to tackle the pandemic.
The total number of coronavirus cases in United States has crossed 4,00,300, and the death toll stands at 12,837, according to John Hopkins University data.
