Jack Dorsey, CEO of Twitter and Square, donates 28% of his fortune to the COVID-19 coronavirus pandemic


Jack Dorsey said Twitter who decided to donate the amount of $ 1 billion of his assets place to help in the world coronavirus crisis.


The CEO of Twitter y placeJack Dorsey revealed yesterday on his account Twitter This will donate $ 1 billion to the COVID-19 coronavirus pandemic. A pandemic that has more than 1.4 million people infected and more than 80,000 deaths today.

Dorsey, who, as we said, is a great defender of Bitcoin indicated that This donated amount corresponds to 28% of your current wealth, which corresponds to your company place. It is a financial services and mobile payment company that enables transactions from Bitcoin. You can read more about it place here.

Dorsey made the announcement on Twitter and added a document from Google:

@ Jack
I am transferring $ 1 billion of my Square Estate (~ 28% of my assets) to #startsmall LLC to fund global aid for COVID-19. After disarming this pandemic, the focus is on girls’ health and education and the UBI. It works transparently, all streams are tracked here: https://docs.google.com/spreadsheets/d/1-eGxq2mMoEGwgSpNVL5j2sa6ToojZUZ-Zun8h2oBAR4…

The attached Google document shows that out of a total of USD 1 billion, USD 100,000 has already been contributed to the campaign GoFundMe by Leonardo Di Caprio, whose link is attached. Di Caprio has raised more than $ 13 million, of which $ 5 million is donated by the actor himself and another $ 5 million has been donated by Apple.

Dorsey’s idea of ​​providing a public document from Google is that people can keep track of where they spend the money and make their transactions transparent. In a thread tweet, he explained that it was important to make the process transparent so that “I and others can learn.”

It is important to note that Dorsey tweeted that after the pandemic ended, the rest of the funds would go to girls’ health and education and the UBI (Universal basic income or universal basic salary).

In the same Twitter thread, he justified his reasons to focus on the education of girls and the UBI. He said:

Why UBI and girls’ health and education? I think they are the best long-term solutions to the world’s existential problems. UBI is a great idea that needs to be experimented with. The health and education of girls are vital to balance: https://t.co/dC3dU6hvxB

Dorsey also announced in the Twitter thread that the grants will be awarded Start Small Foundation or the LLC (limited liability company) directly depending on the beneficiary organization. All transfers, sales and grants are published on the tracking sheet. He added why he uses his money from Square rather than Twitter:

Why just pull square and not twitter? Simple: I have a lot more square. And I will have to speed up the sale for some time. The impact of this money should benefit both companies in the long run as it helps the people we want to serve.

He concluded by saying:

Why now? The needs are becoming more urgent and I want to see the effects in my life. I hope that inspires others to do something similar. Life is too short, so let’s do everything we can to help people now.

Responses to Jack Dorsey’s donation for the corona virus

12 hours after the tweet was published, the news received more than 220,000 “likes” from followers. Some celebrities also thanked Dorsey, such as the case of former Democratic presidential candidate Andrew Yang, also a defender of Bitcoin, who also proposed a $ 1,000 universal basic income per American.
Sparente, all flows are tracked here: https://docs.google.com/spreadsheets/d/1-eGxq2mMoEGwgSpNVL5j2sa6ToojZUZ-Zun8h2oBAR4…

Another who responded was Changpeng Zhao, Binance’s CEO, who said Dorsey was an example of the new generation of billionaires. This is her tweet:

Other personalities who responded positively to Dorsey’s announcement were actress Alyssa Milano, who thanked her; Rob Anderson, Democratic candidate for the US House of Representatives; Mike Isaac, New York Times technology reporter; and the President of the American Conservation Coalition, Benji Backer, among many others.

Related links

Jack Dorsey announced a new emoji for Bitcoin on Twitter

Dorsey says Bitcoin will define the future

Dorsey says Square will support Bitcoin development

Source: Tweets by Dorsey, Bitcoinist

Report from DailyBitcoin

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