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Twitter CEO Jack Dorsey Pledges $1B To Fund Coronavirus Research

Twitter CEO Jack Dorsey Pledges $1B To Fund Coronavirus Research 44

The coronavirus pandemic has infected more than 1.43 million people and killed over 82,000 worldwide with a total recovery of 301,649 people.

Twitter co-founder, Jack Dorsey tweeted on Tuesday that he will donate $1bn of Square shares to a charitable fund, called Start Small, to “fund global COVID-19 relief”. He said the donation was equivalent to about 28% of his wealth.

See his tweet below:-

Twitter CEO Jack Dorsey Pledges $1B To Fund Coronavirus Research 45

jack

@jack

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

Twitter CEO Jack Dorsey Pledges $1B To Fund Coronavirus Research 46

Start Small tracking

Donations Current Value, $ 1,000,000,028.00 ,*40M past donations Current Price, $ 50.42 Number of Shares in LLC,19,833,400 Total Remaining: , $ 1,000,000,028.00 Total Dispersed:, $ 1,000,000.00…

docs.google.com

Twitter CEO Jack Dorsey Pledges $1B To Fund Coronavirus Research 45

jack

@jack

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

Twitter CEO Jack Dorsey Pledges $1B To Fund Coronavirus Research 46

Start Small tracking

Donations Current Value, $ 1,000,000,028.00 ,*40M past donations Current Price, $ 50.42 Number of Shares in LLC,19,833,400 Total Remaining: , $ 1,000,000,028.00 Total Dispersed:, $ 1,000,000.00…

docs.google.com

Twitter CEO Jack Dorsey Pledges $1B To Fund Coronavirus Research 45

jack

@jack

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

Girl standing in front of chalkboard holding a book in a classroom in Kenya.

Health and Education | Project Drawdown

It is critical that human rights are always centered, that gender equality is the aim, and that benefits to the planet are understood as positive ripple effects of access and agency.

drawdown.org

Twitter CEO Jack Dorsey Pledges $1B To Fund Coronavirus Research 45

jack

@jack

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.

Twitter CEO Jack Dorsey Pledges $1B To Fund Coronavirus Research 45

jack

@jack

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. Suggestions welcome. Drop your cash app 😉

Twitter CEO Jack Dorsey Pledges $1B To Fund Coronavirus Research 45

jack

@jack

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. Suggestions welcome. Drop your cash app 😉

Twitter CEO Jack Dorsey Pledges $1B To Fund Coronavirus Research 45

jack

@jack

Why pull just from Square and not Twitter? Simply: I own a lot more Square. And I’ll need to pace the sales over some time. The impact this money will have should benefit both companies over the long-term because it’s helping the people we want to serve.

What do you think?

Written by Guru

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