INSUBCONTINENT EXCLUSIVE:
Jack Dorsey announced in a series of tweets today that he is shifting $1 billion in his Square equity to create a fund dedicated to
The Twitter and Square CEO is calling the fund Start Small and posting a tally of disbursements and recipients in a public
spreadsheet.
Dorsey said in his announcement that the new initiative will shift the focus to other causes at some point.
The first Start
Small contribution listedis $100,000 to America Food Fund — an effort led by Leonardo DiCaprio and Laurene Powell Jobs dedicated to
providing meals to vulnerable populations disrupted by the COVID-19 pandemic.
Other top backers of America Food Fund include Oprah Winfrey
($1 million) and Apple ($5 million), according to the organization GoFundMe page.
That what we know so far from a tweet posted Tuesday
afternoon by the American tech entrepreneur who co-founded and leads not one, but two publicly listed companies.
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 health and education, and UBI
It will operate transparently, all flows tracked here: https://t.co/hVkUczDQmz
— jack (@jack) April 7, 2020
There still a lot to learn
about Dorsey new initiative, including how it will be managed, whether it will make investments (along with donations) and how to apply for
TechCrunch has asked Square for additional details and will update this post when we hear back.
