Twitter founder and boss Jack Dorsey announced Tuesday that he is donating $ 1 billion to help fight the coronavirus pandemic.
To reach this amount, he will gradually sell shares in his other company, Square, specializing in digital payment. In a series of tweets, Mr. Dorsey explains that this sum represents 28% of his fortune.
“When we have defused this pandemic, the money will be redirected to girls’ health and education, as well as universal income,” said the billionaire, whose fortune is estimated at $ 3.3 billion by Forbes.
Jack Dorsey sees these two areas as potential solutions to the ‘problems the world faces’. Universal income has sparked renewed interest from many politicians and businessmen, while the economic crisis linked to the Covid-19 has put millions of people out of work. “It’s a great idea that needs to be tested,” he continues.
The funds will be allocated via its Start Small foundation, transparently. A spreadsheet he shared online indicates a first grant of $ 100,000 for the ‘American food fund’.
“It is important (that it is transparent) so that others and I can learn from it”, explains the one who had given a third of his Twitter actions to his employees in 2016.
‘Why now? Because the needs are urgent and I want to see the effects during my life, ‘says Jack Dorsey. ‘I hope this will inspire others. Life is too short, so let’s do everything we can to help people now. ‘
Jeff Bezos, the boss of Amazon and the richest man in the world, announced on Instagram five days ago that he was donating $ 100 million to American food banks. Mark Zuckerberg, the founder of Facebook, and his wife Priscilla Chan donated $ 25 million for research into treatments for the coronavirus.