(UTV |SAN FRANCISCO) – Twitter co-founder and chief executive Jack Dorsey said Tuesday he was committing $1 billion of his personal fortune to coronavirus relief through his philanthropic fund.
Dorsey said in a series of tweets that he would transfer his equity in his digital payments group Square to his limited liability corporation Start Small, contributing around 28% of his overall wealth.
“Why now? The needs are increasingly urgent, and I want to see the impact in my lifetime,” Dorsey said.
The move could be the largest from a single individual for coronavirus relief and comes with the pandemic spanning the globe and inflicting a heavy toll in lives and economic devastation on the United States.