Chief Executive Officer (CEO) of popular social media platform Twitter has contributed hugely to the fight against COVID-19. CEO Jack Dorsey has pledged to donate about 28% of his wealth. This is the highest donation by any private individual so far as per Forbes for the cause.

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 on Tuesday pledged $1 billion of his stake in Square Inc. Square Inc is the payments processor merchant firm that he co-founded and heads. In a series of tweets, Dorsey made the announcement. The money would be donated to his charity fund, Start Small LLC.

Why UBI and girl’s health and education? I believe they represent the best long-term solutions to the existential problems facing the world. UBI is a great idea needing experimentation. Girl’s health and education is critical to balance: https://t.co/dC3dU6hvxB
— jack (@jack) April 7, 2020

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Why is #startsmall a LLC? This segments and dedicates my shares to these causes, and provides flexibility. Grants will be made from Start Small Foundation or the LLC directly based on the beneficiary org. All transfers, sales, and grants will be made public in tracking sheet.
— jack (@jack) April 7, 2020

Why the transparency? It’s important to show my work so I and others can learn. I’ve discovered and funded ($40mm) many orgs with proven impact and efficiency in the past, mostly anonymously. Going forward, all grants will be public. Suggestions welcome. Drop your cash app 😉

— jack (@jack) April 7, 2020

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Why pull just from Square and not Twitter? 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.
— jack (@jack) April 7, 2020

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

The fund would focus the attention on universal basic income and girls’ health and education in the time to come. Dorsey, who for years has kept details of his charitable efforts private, said all donations to and from the fund would now be visible to the public at all times through a public document.

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Dorsey’s net worth is estimated at $3.3 billion by Forbes. Dorsey also said that he would pace the sale of the pledged shares over time.

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