Twitter CEO Jack Dorsey Allocates $1 Billion Of His Square Equities To Launch COVID-19 Helping Fund

Twitter CEO and Square founder, Jack Dorsey, is joining the list of entrepreneurs donating money and supplies to fight the COVID-19 pandemic. The well-known Bitcoin proponent has transferred $1 billion worth of his Square shares into an entity called Start Small LLC. The amount represents 28% of his net worth.

Jack Dorsey’s COVID-19 Fund

As the fight against the novel coronavirus continues, large entities and even individuals are donating significant amounts for equipment, masks, ventilators, and more. Jack Dorsey, Twitter CEO and founder of Square, recently announced his contribution on the matter.

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 has established a transparently operating fund called Start Small LLC. He has transferred $1 billion worth of his Square shares, which represents roughly 28% of his wealth.

According to the file Dorsey shared, the first donation of $100,000 has been submitted to America’s Food Fund. Launched by popular Hollywood actor Leonardo DiCaprio, its mission is to raise $15 million for meals for people impacted by the COVID-19. It managed to raise over $12 million in just a day.

Dorsey, who still keeps the Bitcoin emoji on his personal Twitter page, explained that the Start Small LLC would play a role even after the COVID-19 crisis ends. It will focus on the health and education of girls worldwide.

Current COVID-19 Data

Just a few months after the first infected person in China, the novel virus has spread to almost all corners of the world. The total number of confirmed cases is rapidly closing down to 1.5 million. The total death toll at the time of this writing is above 82,000.

The United States is currently the most affected country in terms of case numbers. Over 400,000 people have tested positive. So far, though, the number of casualties is relatively low – less than 13,000. Nations like Spain and Italy, while having significantly less confirmed cases, have reported more deaths.

The silver lining at the moment is the number of successfully recovered patients worldwide – over 300,000.