Thursday, April 9, 2020

Twitter CEO Donates $1 Billion for Covid-19 Relief Efforts

The fabulously wealthy people in the world have started to donate quite a bit of money so that they can end up helping the world get past the incredible issues that are currently being faced all in all. Most of the time these efforts are criticized for being quite small when compared to what they actually can do considering the fact that they are worth tens of billions of dollars but the fact of the matter is that not all of these billionaires would be willing to put their finances at risk no matter how necessary it is for the world at large.

However, it seems like Twitter CEO Jack Dorsey might just be setting the example for other billionaires and a big part of the reason why that is the case has to do with the fact that he has just donated a billion dollars to Covid-19 relief efforts. The way this works is that a billion dollars worth of equity in Dorsey’s second company, Square, will be donated to an LLC that he owns by the name of Start Small.

While Start Small is not a charity in the strictest sense and its investments are usually kept private, Dorsey has decided to make it possible for people to publicly track the investments that are being made so that there is a certain level of accountability there. These are things that matter quite a bit due to the reason that they will make it so that you can legitimately end up making sure that he is not trying to enrich himself by channeling money from one of his organizations to another. Dorsey is worth under 4 billion dollars which means that he just donated 25% of his personal wealth if all of the money actually does end up going to charity all in all.

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

Featured Photo: Matt Crossick/PA Images via Getty Images

Read next: Google Featuring a News Section of Coronavirus across All Its Provided Services

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