Twitter CEO Jack Dorsey is stepping up in a big way to help the fight against the novel coronavirus. Dorsey, who is also CEO of Square, announced that he will be donating a whopping $1 billion to fight the pandemic.
Dorsey is pulling shares from Square, a mobile payments company, and putting into the Start Small LLC he created. The LLC will make grants to beneficiaries and the recordings will all be public.
The flows from his coronavirus fund will be tracked in a Google Document that is accessible to everyone.
“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,” Dorsey said. “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.”
The 43-year-old is the latest tech giant and celebrity to donate towards stopping the spread of the virus. Others who have donated include Facebook CEO Mark Zuckerberg and Amazon CEO Jeff Bezos.
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 coronavirus mainly comes from animals and a majority of those who were infected early either worked at or frequently visited the Huanan seafood wholesale market in Wuhan, according to The Guardian. The virus is similar to Severe acute respiratory syndrome (Sars) and Middle Eastern respiratory syndrome (Mers).
The Wuhan coronavirus is transmitted from person to person through “droplet transmission.” That means an infected person can pass the virus by sneezing or coughing on another person as well as by direct contact.
While a majority of the cases have been detected in the United States and China — with more than 9,600 deaths in the United States which surpasses and nearly triples the death toll of the September 11 terrorist in New York City — it has now reached many countries around the world. It has also been confirmed in Italy, Australia, Canada, France, Germany, and many other eastern countries.