Twitter’s Jack Dorsey announced he’s donating $1 billion of his Square equity—28% of his wealth—towards Coronavirus relief efforts.
Today, the 43-year-old mogul took to his social media platform revealing he’d be moving his charitable monies into a fund he calls Start Small, LLC—dedicated to COVID-19 research and support.
Jack explained why he decided to contribute such a large chunk of his wealth now rather than wait until he is older.
“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.”Jack Dorsey on Twitter
Start Small LLC is up and it’s already made their first donation to America’s Food Fund for $100,000.
Jack believes in being transparent about where all of the money is going. He says that he wants others to “learn” from his actions.
This is not the first time the billionaire has donated his money. He tweeted that he has already distributed $40 million to worthy causes. Some of those donations were public, but most of them were anonymous.
Why now? 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. ✌?— jack (@jack) April 7, 2020
Do you know an organization or someone who will put that money to good use? The Twitter creator is up for your suggestions. He even said, “Drop your cash app ;).”
I am not sure if Jack’s serious, but I will let you know if I get anything in my CashApp from him.
If you want to monitor how the benevolent businessman is distributing the $1 billion, check out this Google Doc which will be constantly updated with information about the dissemination of his generosity amid the global health crisis.
Now, that Jack dropped a lot of pocket change to help strangers, I would not be surprised if other tech gurus will follow suit.