SAN FRANCISCO: Twitter co-founder and chief executive Jack Dorsey said on Tuesday (Apr 7) he was committing US$1 billion of his personal fortune ...
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.
Dorsey said that after the pandemic ends, the fund would focus on health and education for girls and"universal basic income" efforts. Dorsey, who is CEO of both Twitter and Square, has created a foundation as well as the Start Small - a model similar to that established by Facebook founder Mark Zuckerberg in his Chan-Zuckerberg Initiative, to allow for flexibility in funding startups and efforts a foundation may be ineligible to fund.
"Why is #startsmall a LLC? This segments and dedicates my shares to these causes, and provides flexibility," Dorsey said.
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