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/...

@jack 2020-04-08

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Vox Theodore Schleifer on x
What you should know about Jack Dorsey's surprising $1 billion commitment to charity
@jack @jack on x
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 on x
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/...
@jack @jack on x
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. ✌🏼
@owenthomas Owen Thomas on x
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/ ..…
@jack @jack on x
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 ;)
@mikebloomberg Mike Bloomberg on x
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/...
@joshtpm Josh Marshall on x
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/...
@jack @jack on x
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.
@noahpinion @noahpinion on x
Good Dorsey! https://twitter.com/...
@katierogers Katie Rogers on x
yeah but did he consider turning this website off https://twitter.com/...
@andrewyang Andrew Yang on x
Holy cow this is enormous. https://twitter.com/...
@redsteeze Stephen L. Miller on x
Could you maybe start by cutting off Chinese state propaganda accounts? Thanks. https://twitter.com/...
@teddyschleifer Teddy Schleifer on x
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…
@mdudas @mdudas on x
I ♥️ billionaires https://twitter.com/...
@teddyschleifer Teddy Schleifer on x
🚨🚨🚨 Jack Dorsey is committing one BILLION dollars to coronavirus efforts. https://twitter.com/...

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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

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