Jack Dorsey has set aside $1 billion to help fight COVID-19.
Getty ImagesTwitter and Square CEO Jack Dorsey said in a tweet on April 7 that he'll move $1 billion of his Square equity to fund relief for COVID-19, the disease caused by the coronavirus. After the pandemic passes, he added, the money will fund girls' health and education, as well as universal basic income.
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://t.co/hVkUczDQmz
— jack (@jack) April 7, 2020
Dorsey shared a Google Sheets link where people can track where the money goes.
"Why pull just from Square and not Twitter?" Dorsey wrote in a follow-up tweet. "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."
Dorsey confirmed on April 13 he has donated $1 million to Masks For The People, an effort to deliver face masks, hand sanitizer and testing kits to the "incarcerated, formerly incarcerated, violence interrupters, elderly in our community, and most vulnerable black and brown loved ones in urban and rural communities."
In addition, Dorsey is co-funding $4.2 million with Rihanna's Clara Lional Foundation for the Mayor's Fund LA "to address the current crisis for domestic violence victims in Los Angeles as a result of the COVID-19 Safer at Home Order," they announced on April 9.
We're joining forces with Twitter/Square CEO @Jack today by co-funding $4.2 million grant to the @MayorsFundLA to address the current crisis for domestic violence victims in Los Angeles as a result of the COVID-19 Safer at Home Order. #startsmall #CLF pic.twitter.com/JKoKb60N3n
— Clara Lionel Fdn (@ClaraLionelFdn) April 9, 2020
Tech companies that have contributed to COVID-19 relief efforts include Apple, which reportedly doubled its donations to China's fight against the outbreak, and Samsung, which is providing funding and medical supplies as well as donating its phones to quarantined patients. The Bill & Melinda Gates Foundation said it's donating $100 million to coronavirus treatment, and the Chan Zuckerberg Initiative said it'll give $25 million to help fight COVID-19. Additionally, Amazon CEO Jeff Bezos is donating $100 million to food banks in the US.
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