Twitter and Square founder Jack Dorsey announced on Tuesday that they had transferred Square’s $ 1 billion in equity to an LLC to fund the COVID-19 aid, NBC News reported. This corresponds to approximately 28% of its total net assets.
Dorsey’s investment in coronavirus relief has so far been an individual’s primary financial security. Several other current and former technology leaders, including Bill Gates and Jeff Bezos, have pledged $ 100 million each. Unlike other donors, Dorsey also promised to keep a regularly updated public record of all donations. Once the pandemic is over, Dorsey said, the rest of the $ 1 billion will be spent on “girls’ health and education and UBI,” which stands for Universal Basic Income, a program that asks everyone for a certain amount of money. money received from government every month.
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