Twitter billionaire Jack Dorsey on giving away his money: 'If someone is in pain, I am in pain' (via CNBCMakeIt)
But the 43-year-old college drop-out says he plans to give away all of his money within his lifetime."I live by the principle of everything is connected, so if someone is in pain, I'm in pain, ultimately, over time," Dorsey told former Democratic presidential hopeful and universal basic income advocate Andrew Yang on an episode of the "Yang Speaks" podcast published Thursday.
On April 7, pledged to transfer $1 billion worth of his shares of Square to fund a combination of Covid-19 relief efforts, universal basic income and support for girls' health and education. At the time, that was approximately 28% of his net worth. "I'm so grateful, but part of gratitude is not just saying I'm grateful, it's doing," Dorsey told Yang."I want to give out all my money in my lifetime. I want to see the impacts, selfishly, in my lifetime," Dorsey told Yang. "I want to make sure that we're helping people."Because the contribution is in stock and the value of the stock has increased, the donation is currently worth more than $1.5 billion, according to the Google Doc.
"When you build something like a Twitter or Square, the greatest value is actually seeing someone else use it. That's what drives us. It feels electric," Dorsey said. "The first time we saw tweets from Iran, it felt electric. It felt amazing." And it felt just as amazing when his mom texted him to tell him that the coffee shop she goes to in St. Louis had started using Square.
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