by Conscious Reminder
With the pandemic wreaking havoc all around the world, it is quite heartening to see many celebrities come together and donate funds to battle against it.
Among the growing celebrity list, a new favorite has come forward – Jack Dorsey, the CEO of Square, a digital payments service, and Twitter.
The billionaire has announced that he would be transferring around 1 billion dollars of his Square equity to another of Start Small, his limited liability company.
Start Small is an organization focusing on providing relief to the victims of this terrible pandemic. Once the disease is controlled, Start Small will shift its focus to the education and health of girls.
On Twitter, Dorsey mentioned: “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 [universal basic income].”
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
As per Dorsey, the billion-dollar equity is actually more than a quarter of his total wealth. He has also provided a Google Sheet link to display his company accounts, including his total spendings.
Following up on his original Tweet, Dorsey mentions that he used his Square equity and not Twitter because he was more invested in Square. He mentions: “I’ll need to pace the sales over some time. The impact this money will have should benefit both companies over the long-term because it’s helping the people we want to serve.”
Why pull just from Square and not Twitter? Simply: I own a lot more Square. And I’ll need to pace the sales over some time. The impact this money will have should benefit both companies over the long-term because it’s helping the people we want to serve.
— jack (@jack) April 7, 2020
He wants to keep everything transparent so that others can learn and get inspiration from the entire process.
“Why the transparency? It’s important to show my work so I and others can learn. I’ve discovered and funded ($40mm) many orgs with proven impact and efficiency in the past, mostly anonymously. Going forward, all grants will be public. Suggestions welcome.”
While explaining his motive to empower the education of girls and the universal basic income, he mentions that “they represent the best long-term solutions to existential problems [of the world].
The needs are increasingly urgent, and I want to see the impact in my 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.”
Why now? The needs are increasingly urgent, and I want to see the impact in my 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. ✌🏼
— jack (@jack) April 7, 2020
Donations towards the fight against this disease have come from many other sectors as well. Jeff Bezos, the founder and CEO of Amazon, made the announcement that he is donating about 100 million dollars to Feeding America – an organization that is trying to help families with food banks.
Bill and Melinda Gates collaborated with Mark Zuckerberg and his wife, Priscilla Chan to donate 25 million dollars towards the discovery of a treatment for this virus. The Bill and Melinda Gates Foundation is also donating about 125 million dollars for a vaccine.
As the pandemic keeps piling up more and more dead bodies, it is great to see celebrities come forward and help the world in this time of crisis.
Now, you can follow Conscious Reminder on Facebook & Instagram!
∼If you like our article, give Conscious Reminder a thumbs up, and help us spread LOVE & LIGHT!
