Twitter and Square CEO has announced that he will be using $1 billion in Square equity to open up a fund dedicated to COVID-19 relief. Currently, Dorsey is naming the fund “Start Small” and will be posting daily disbursements of the $1 billion fund on a public spreadsheet. The first donation from the fund was a $100,000 contribution to America’s Food Fund.
“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,” Dorsey tweeted.
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
In the future, Dorsey is committed to keeping the fund open. He noted that he hopes to donate some of the fund to education for girls and universal income.
Moving forward, Dorsey will reveal more about how the fund will be managed and how others can access funding.
