CEO of Twitter and payments company Square, Jack Dorsey, said he is moving $1 billion of his equity in Square to fund COVID-19 relief efforts and eventually other causes.
Libby Hogan reports.
Twitter boss Jack Dorsey has pledged $1 billion to help fund relief efforts related to the coronavirus.
He says he'll get the funds from his stake in the payment app, Square, he helped found - and which he leads alongside Twitter.
Dorsey has a net worth of about 3.3.
Billion dollars according to him, the donations mark 28 percent of his wealth.
He says the funds will be distributed through his foundaction called Start Small, a charity focused on universal basic income and girls' health and education.
Dorsey tweeted that he "hopes this inspires others to do something similar.
Life is too short." He also explained that he is tapping into his Square holdings because "I own a lot more Square" than Twitter equity.
The billionaire is usually tight lipped about the details of the funds going to and from the charity, but said he'd now make them visible to the public through a public Google doc.
He joins other tech giants to donate some of their fortune to the pandemic relief, including Facebook's Mark Zuckerberg and Amazon's Jeff Bezos.
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