Coronavirus: Twitter CEO Jack Dorsey Donates $1bn To Fight COVID-19 Globally
The CEO of Twitter, Jack Dorsey has donated $1 billion for the global fight against coronavirus.
Internet entrepreneur and the CEO of Twitter, Jack Patrick Dorsey, has announced the donation of 28% of his wealth ($1 billion) towards the fight against Coronavirus (COVID-19) across the globe.
Dorsey announced the donation via his Twitter account (@Jack) on Tuesday.
The 42-year-old American computer programmer said the donation would be made to Start Small Foundation which is a donor-advised fund managed by the Silicon Valley Community Foundation.
According to Dorsey, should the money remain after COVID-19 is defeated, what is left would be used to promote girl’s health and education, and universal basic income (UBI).
He wrote: “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://docs.google.com/spreadsheets/d/1-eGxq2mMoEGwgSpNVL5j2sa6ToojZUZ-Zun8h2oBAR4/htmlview
“Why UBI and girl’s health and education? I believe they represent the best long-term solutions to the existential problems facing the world. UBI is a great idea needing experimentation. Girl’s health and education is critical to balance: https://www.drawdown.org/solutions/health-and-education
“Why now? 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.”
“Why is #startsmall a LLC? This segments and dedicates my shares to these causes, and provides flexibility. Grants will be made from Start Small Foundation or the LLC directly based on the beneficiary org. All transfers, sales, and grants will be made public in tracking sheet.
“Why the transparency? It’s important to show my work so I and others can learn. I’ve discovered and funded ($40mm) many orgs with proven impact and efficiency in the past, mostly anonymously. Going forward, all grants will be public,” said Dorsey.