Jack Dorsey, CEO of Square, Chairman of Twitter and founder of both, holds an event in London. File
Gulf Today Report
Twitter CEO Jack Dorsey announced to set aside $1 billion or just under a third of his total wealth to fight the pandemic.
In a series of tweets, he said it's important to show his work so others can learn.
Dorsey said he would put 28 percent of his wealth, in the form of shares in his mobile payments company Square, into a limited liability company that he had created, called Start Small. Start Small would make grants to beneficiaries, he said, with the expenditures to be recorded in a publicly accessible Google document.
"I'm moving $1B of my Square equity (28 per cent 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," Dorsey said.
Dorsey also tweeted a link to a public Google Doc where people can track which organisations the fund's money will go to.
He said the needs are increasingly urgent, and he wants to see the impact in his lifetime.
"I hope this inspires others to do something similar. Life is too short, so let's do everything we can today to help people now," he noted.
Jack said he has funded $40 million in grants to many organisations with proven impact and efficiency in the past, mostly anonymously.
Dorsey, 43, joins a growing list of celebrities, world leaders and technologists who are earmarking some portion of their wealth to fighting the spread of the coronavirus and its effects.
Oprah Winfrey has donated more than $10 million of her personal wealth to Covid-19 relief efforts, while other Hollywood personalities — including Justin Timberlake, Dolly Parton and Rihanna — have also made contributions.
Anna Wintour has shared the emotional response she experienced after finding out Ralph Lauren donated $10m to fighting coronavirus.
Arjun Kapoor is joining hands with international stars Jason Derulo, Dua Lipa, Maluma, Nicky Jam, Becky G, among others, to raise funds for those affected by coronavirus globally.
Strapped for cash due to the COVID-19 outbreak, people in Los Angeles have turned to bartering and sharing food items among other things.
Russia's Central Election Commission said on Friday that the election would for the first time be held over three days — from March 15-17.
The police shared a video in cooperation with the Monitoring and Control Centre within the 'Your Comment' initiative, showing a serious accident that occurred due to the driver's lack of focus on the road.
This gesture was part of RTA's yearly traffic safety initiatives, conducted in collaboration with Dubai Police General HQ, Dubai Health Authority (DHA), UNICEF, and supported by the Emirates General Petroleum Corporation (Emarat) and Continental Tires.