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Twitter and Square CEO Jack Dorsey said in a tweet Tuesday that he'll be moving $1 billion of his Square equity to fund relief for COVID-19, the disease caused by the newly identified coronavirus. After the pandemic passes, he added, the money will fund girls' health and education, as well as universal basic income.
Dorsey shared a Google Sheets link where people can track where the money goes.
"Why pull just from Square and not Twitter?" Dorsey wrote in a follow-up tweet. "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."
Dorsey confirmed on April 13 he had donated $1 million to Masks For The People, a humanitarian effort to deliver masks and hand sanitizer to black and brown populations in need. In addition, Dorsey is co-funding $4.2 million with Rihanna's Clara Lional Foundation for the Mayor's Fund LA "to address the current crisis for domestic violence victims in Los Angeles as a result of the COVID-19 Safer at Home Order," they announced Thursday afternoon.
Tech companies that have contributed to COVID-19 relief efforts include Apple, which reportedly doubled its donations to China's fight against the outbreak, and Samsung, which is providing funding and medical supplies as well as donating its phones to quarantined patients. The Bill & Melinda Gates Foundation said it's donating $100 million to coronavirus treatment, and the Chan Zuckerberg Initiative said it'll give $25 million to help fight COVID-19. Additionally, Amazon CEO Jeff Bezos is donating $100 million to food banks in the US.
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