Twitter founder wants to donate a billion dollars

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Jack Dorsey

The Twitter boss follows the example of Microsoft founder Bill Gates.

Hamburg The founder of the short message service Twitter, Jack Dorsey, wants to donate a billion dollars – among other things for help in the corona pandemic. To do this, he uses shares in the payment service provider Square, which he also founded.

“Why now? The need is becoming more urgent and I want to see results in my lifetime, ”he tweeted. According to him, he puts 28 percent of his wealth into charity.

The success of Twitter made the 43-year-old one of the best-known entrepreneurs in Silicon Valley. He is also the boss of Twitter and Square. Both companies are now listed on the stock exchange, but Dorsey only has a small stake in Twitter.

Specifically, Dorsey is transferring 20 million Square shares to a company that is to gradually turn the papers into money. Initially, the funds are to be used as corona aids, later they will benefit women’s projects in developing countries and projects on unconditional basic income.

In his opinion, these two fields are “the best long-term solutions to the existential problems of the world,” wrote Dorsey. He promised complete transparency about income and expenses. The entrepreneur has long seen a need for action in the global south: in the meantime he has announced that he plans to work from Africa for some time.

To date, corona has mainly affected industrialized countries. In contrast to other disasters, there are hardly any fundraisers and there is currently little need for donations. The first donation from Dorsey’s new $ 100,000 aid fund goes to the “America’s Food Fund” panel project.

Bill Gates is a role model for major donors from the US tech scene. The Microsoft founder announced a few days ago that his foundation should finance factories for corona vaccines.

Unlike Gates, Dorsey is also criticized in the corona crisis, because false news about the virus spread on Twitter.

More: Twitter closes deal with hedge funds – Jack Dorsey remains boss

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