Twitter's Jack Dorsey To Donate $1 Bln To Covid-19 Relief; 28% Of His Wealth

(RTTNews) - Jack Dorsey, the co-founder of Twitter Inc. and digital payments platform Square Inc., said that he will donate $1 billion worth of equity in Square to his Start Small Foundation to fund the coronavirus relief around the world.

In a series of tweets, Dorsey said the donation represented about 28% of his wealth.

But, Dorsey did not mention exactly where the funds would be sent to help in battle against the Covid-19.

Dorsey said he is pledging his stake in Square instead of Twitter because he owns a "lot more" of shares in Square.

Once the Covid-19 pandemic has been "disarmed", the focus will shift to girl's health and education, and universal basic income, Dorsey tweeted.