Published On: Wed, Apr 8th, 2020

Jack Dorsey creates $1B COVID-19 service account regulating Square equity

Jack Dorsey announced in a array of tweets currently that he is changeable $1 billion in his Square equity to emanate a account dedicated to COVID-19 relief. The Twitter and Square CEO is job a account Start Small and posting a total of disbursements and recipients in a open spreadsheet.

Dorsey pronounced in his proclamation that a new beginning will change a concentration to other causes during some point.

The initial Start Small grant listed is $100,000 to America’s Food Fund — an bid led by Leonardo DiCaprio and Laurene Powell Jobs dedicated to providing dishes to exposed populations disrupted by a COVID-19 pandemic.

Other tip backers of America’s Food Fund embody Oprah Winfrey ($1 million) and Apple ($5 million), according to a organization’s GoFundMe page.

That’s what we know so distant from a twitter posted Tuesday afternoon by a American tech businessman who co-founded and leads not one, though dual publicly listed companies.

There’s still a lot to learn about Dorsey’s new initiative, including how it will be managed, either it will make investments (along with donations) and how to request for funding. TechCrunch has asked Square for additional sum and will refurbish this post when we hear back.

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