Twitter founder pledges £812 million to fight coronavirus pandemic

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PARIS, FRANCE - MAY 15: Chief executive officer of Twitter Inc. and Square Inc. Jack Dorsey arrives to attend the "Tech for Good" Summit at Hotel de Marigny on May 15, 2019 in Paris, France. The second edition of the "Tech for Good Summit " launched by French President Emmanuel Macron in 2018 brings together more than 80 leaders of large companies, startups and players in the global digital ecosystem to discuss the contribution of technology to the common good and the collective fight against digital threats. (Photo by Chesnot/Getty Images)

Twitter founder pledges £812 million to fight coronavirus pandemic.

Twitter founder and chief executive Jack Dorsey is setting aside one billion dollars (£812 million) in stock to establish a philanthropic venture aimed initially at fighting the Covid-19 pandemic.

Dorsey, who is also chief executive of the financial-payments startup Square, will bequeath the new venture shares from his Square holdings.

The 43-year-old announced the new venture, called Start Small, in a series of tweets, and said the contribution amounts to 28 per cent of his fortune.

The organization will disclose all transfers, sales and grants on a public Google Doc spreadsheet.

Start Small will not be limited to fighting the pandemic, Mr Dorsey said.

‘Once we have disarmed this pandemic,’ he wrote, the organisation will shift its focus to girls’ health and research into universal basic income, the idea that governments should guarantee a minimum income for all citizens.

(Metro.co.uk)

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