(Technology) – Twitter’s CEO Jack Dorsey pledged $1 billion of his stake in Square, the payments processor co-founded and headed by him, for relief efforts related to the coronavirus pandemic.
Dorsey tweeted that the amount, representing about 28% of his wealth, will be donated to Start Small LLC which would later focus attention to universal basic income and girls’ health and education.
Dorsey said all donations to and from the fund will be visible to the public at all times through a public document.
Dorsey also was pledging his stake in Square instead of Twitter because he owns a bigger portion of the payments processor.
Dorsey said that he would pace the sale of the pledged shares over time.
U.S. recorded more than 380,000 coronavirus cases, with the total death toll rising to about 12,300.
(Photos syndicated via Reuters)
This story has been edited by BH staff and is published from a syndicated field.