Dorsey says he's moving $1B of his Square equity, ~28% of his wealth, to Start Small LLC to fund COVID-19 relief, to later focus on girls' health and education
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://docs.google.com/...
The vehicle choice matters as much as the size: Start Small is structured as an LLC rather than a foundation, and Dorsey is publishing all money flows in a public tracker. That pairs the flexibility of a private investment vehicle with real-time disclosure, and it pre-commits the capital beyond the pandemic to girls' health, education, and UBI.
First-order effects
COVID-19 relief efforts gain a new $1B funding source immediately, disbursed through Start Small LLC under Dorsey's published tracking.
Dorsey's personal finances are now visibly tied to Square's stock: ~28% of his wealth sits in company equity earmarked for giving rather than personal use.
Second-order effects
Other wealthy tech founders face an immediate benchmark during the pandemic — a peer committing a quarter of his net worth, publicly itemized, raises the bar for what counts as a serious relief pledge.
Because the commitment is denominated in Square equity, the fund's eventual purchasing power moves with SQ's share price, linking the scale of the philanthropy to the company's market performance.
Third-order effects
If the LLC-plus-public-ledger model catches on, founder philanthropy shifts away from slow traditional foundations toward flexible vehicles with live disclosure — giving becomes an operating activity, not an end-of-career bequest.
A funded, high-profile UI commitment from a sitting CEO gives universal basic income a named capital backer, moving it from advocacy toward testable pilots.
The trend: Tech-founder wealth is migrating from conventional foundations into transparent, flexible LLCs, with the pandemic compressing what used to be lifetime giving plans into single announcements.
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.
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://www.drawdown.org/...
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. ✌🏼
Remember when Jack Dorsey said he would give away nearly a third of his stake in Square? That was five years ago. Spoiler: He never did. Why we should be asking @jack more questions about his new philanthropic promises, in my latest @techchronicle: https://www.sfchronicle.com/ ..…
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 ;)
For as long as I've known him, @Jack has been committed to giving back and helping others, and this is a powerful testament to that. https://twitter.com/...
Curious to see how this plays out in practice. But if that number bears out that puts basically every other plutocrat to shame. And I think he's only a “minor” billionaire? https://twitter.com/...
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.
Just to clarify this a little: — Not a guarantee that all of the $1 billion is going to COVID efforts directly. This is an injection of cash for a broader philanthropic project. — Not a guarantee that all of the $1 billion is “charity.” An LLC allows for for-profit investments. h…