Twitter CEO Jack Dorsey, who rearly drives his one and only car, a BMW M3, has donated $1billion (about 28%) of his personal fortune to coronavirus relief efforts.
Twitter co-founder Jack Dorsey, last week pledged to use $1b (₦367 billion) from his stake in Square Inc. to help fight and treat the global pandemic.
The tech entrepreneur announced that his gift, which represents over a quarter (28%) of his $3. 89 billion personal fortune, would be used to start the Start Small fund.
He added that any money left after the pandemic will be donated to girls’ health and education charities and to the campaign to expand universal basic income.
“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’s health and education, and UBI.”
Dorsey also announced that he would be documenting how each dollar from the donation is spent.
As of publication, the Start Small fund had made one donation for $100,000 to America’s Food Fund.
America’s Food Fund is a fundraiser set up by Leonardo DiCaprio and Laurene Powell Jobs to help feed families impacted by the Covid-19.
“Why the transparency? It’s important to show my work so I and others can learn.
I’ve discovered and funded ($40mm) many orgs with proven impact and efficiency in the past, mostly anonymously,”
He added in a later tweet.
“Going forward, all grants will be public. Suggestions welcome.”
Dorsey joins other billionaires who have announced large donations to help coronavirus relief efforts.
These includes Jeff Bezos (who donated $100 million), and Bill and Melinda Gates (an undisclosed amount).
But what kind of car does Dorsey drive?
The billionaire co-founder of Twitter is not a car guy. Dorsey didn’t buy his first car, an M3, until 2011 at the age of 35.
And he chose well, his BMW M3 is a high-performance version of the BMW 3 Series, developed by BMW’s in-house motorsport division.
Dorsey admits that he doesn’t drive that much, preferring to use public transport instead.
Commenting on Dorsey’s only car, Twitter cofounder, Biz Stone, told reporters in 2013, that :
“Now he’s able to say, like, ‘The BMW is the only car I drive, because it’s the best automotive engineering on the planet,’ or whatever,”