Twitter boss Jack Dorsey donating $1BILLION in personal wealth to fund coronavirus fight
TWITTER CEO Jack Dorsey has pledged that he will donate $1 billion of his personal wealth to the coronavirus fight.
The billionaire said on Tuesday that the money will come from his Square equity - another company he is CEO of.
Dorsey made the announcement on Twitter, and wrote: "I’m moving $1B of my Square equity (~28% of my wealth) to #startsmall LLC to fund global COVID-19 relief."
Speaking about why he has made the decision to make the donation now, Dorsey said: "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."
Despite announcing that the donation was to help fight the coronavirus, Dorsey said that he will continue with his aid work once the pandemic is over.
He wrote: "After we disarm this pandemic, the focus will shift to girl’s health and education, and UBI.
"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".
The tech investor also detailed why he would be making the donations from his Square equity as opposed to Twitter.
"I own a lot more Square. And I’ll need to pace the sales over some time", Dorsey wrote.
"The impact this money will have should benefit both companies over the long-term because it’s helping the people we want to serve."
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The coronavirus death toll in the US stands at 12,291.
The amount of is currently 387,547 in the country.
However, at least 20,395 have recovered from the deadly virus.
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