In a bid to defeat the deadly coronavirus, Twitter Chief Executive Officer and Square founder, Jack Dorsey has founded a new fund called Start Small LLC aimed at battling the Coronavirus.
He’s seeding the fund with 28% of his wealth, roughly $1billion.
He shared the news via twitter, saying;
“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”.
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
The fund’s efforts will initially focus fighting the global pandemic currently dominating the news cycle, but will eventually switch to providing money for girl’s health, education and universal basic income (UBI) initiatives.
Dorsey is really putting his money where his mouth is when it comes to taking action to improve the world:
“I believe they represent the best long-term solutions to the existential problems facing the world. UBI is a great idea needing experimentation. Girl’s health and education is critical to balance”.
He promises that all the funding will be transparent, and further notes:
“The impact this money will have should benefit both companies over the long-term because it’s helping the people we want to serve.”