Twitter CEO Jack Dorsey has poured $US1 billion of his own fortune into a new fund dedicated to “global COVID-19 relief”.
He explained that all transfers, sales and grants would be made public in a tracking sheet and that he was committed to transparency to provide a record he and others could learn from.
“I’ve discovered and funded … many orgs with proven impact and efficiency in the past, mostly anonymously. Going forward, all grants will be public. Suggestions welcome,” he tweeted. “Why now? The needs are increasingly urgent, and I want to see the impact in my lifetime. I hope this inspires others to do something similar.Mr Dorsey’s donation eclipses those of other recent high-profile donors such as Bill and Melinda Gates, who promised $US100 million to combat coronavirus, which Mr Gates described as a “once-in-a-century pathogen”.
Alibaba founder Jack Ma, ex-hedge fund manager George Soros and Hong Kong’s richest man Li Ka-Shing are among others who have put millions towards fighting the pandemic.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Alarm bells: JPMorgan CEO Dimon says 'bad recession' is comingDimon is the most prominent voice on Wall Street so far to project that the economic cost of the coronavirus will not evaporate quickly.
Read more »
Twitter billionaire pledges quarter of his wealth to combat COVID-19Jack Dorsey pledged $US1 billion ($1.6 billion) of his stake in Square Inc., the payments firm he co-founded and heads, to coronavirus relief efforts - the largest pandemic-related donation yet
Read more »
ASX to drop, Wall Street's coronavirus relief rally fizzles outAustralian shares are set drop in early trade as the massive rally overseas, sparked by hopes of a slowing coronavirus infection curve, fades away.
Read more »
Coronavirus updates LIVE: Boris Johnson moved to intensive care as Australia's COVID-19 death toll hits 45Prime Minister Scott Morrison has urged Australians to stay at home this Easter weekend, saying failure to do so 'would completely undo everything we have achieved so far together' Follow the latest and watch the press conference in our free live blog
Read more »
Coronavirus updates LIVE: COVID-19 cases pass 1.2 million worldwide, UK PM Boris Johnson in intensive care'If you suspect you or a family member has coronavirus you should call (not visit) your GP or ring the national Coronavirus Health Information Hotline on 1800 020 080.'
Read more »