Twitter CEO Jack Dorsey pledges $1 billion of his own wealth into a fund for coronavirus relief


* Jack Dorsey, the CEO of both Twitter and Square, announced on Twitter he created a new charity fund backed by $1 billion of his equity in Square.

* Dorsey estimated it amounts to about 28% of his total wealth.

* The fund, named Start Small LLC, will initially focus on helping tackle the coronavirus pandemic.

* Eventually, the fund will shift its attention to funding girls' health and education and universal basic income.

Jack Dorsey is using his substantial wealth to help tackle the coronavirus pandemic.

Dorsey, who is the CEO of both Twitter and Square, announced on Twitter on Tuesday that he's created a new fund called Start Small LLC that will be funded by $1 billion in his Square equity. He said it's about 28% of his wealth.

After the coronavirus outbreak has been contained, Start Small will shift its focus to funding girls' health and education, as well as universal basic income, a regular cash payment made to citizens by the government, Dorsey said.

"Why UBI and girl's health and education? I believe they represent the best long-term solutions to the existential problems facing the world," Dorsey said in a follow-up tweet. "UBI is a great idea needing experimentation. Girl's health and ... (Read more)

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Submitted 59 days ago

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