Jack Dorsey, the CEO of Twitter and mobile payments company square, announced via Tweet Tuesday (because where else?) that he will be moving a whopping $1B dollars of his Square equity to a fund named Start Small LLC to fund global COVID-19 relief and other causes.
The investment represents a whopping 28% of the tech entrepreneur’s total wealth.
Dorsey says he will first focus the money towards “disarming” the pandemic. After that, he will shift the focus to girl’s health and education, and UBI (Universal Basic Income).
Dorsey says he picked these two causes because “they represent the best long-term solutions to the existential problems facing the world.”
With his announcement, Dorsey hopes to instill a sense of urgency in fellow billionaires and entrepreneurs.
As noted by journalist Yashar Ali on Twitter, there are 167 billionaires in America with more money than Dorsey.
Now, we’ll sit back and see if any of them follow Dorsey’s lead.