The coronavirus is hitting everybody equally, rich and poor; it doesn’t matter. Despite having more resources, the wealthy also could get pretty sick from the virus if they don’t obey to social distancing measures that most countries are taking. In this period of crisis, a lot of celebrities and well-known personalities have also pitched in, collecting millions of dollars to donate to numerous organizations to acquire medical supplies, find a vaccine, feed people who can’t afford to buy groceries and so on. The latest public personality to do so was Jack Dorsey, who just announced a massive donation of $1 billion to create a new fund called Start Small LLC, aimed at fighting COVID-19.
The CEO of Twitter and founder of Square is donating 28$ of his wealth to create this fund, announcing via Twitter:
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. It will operate transparently; all flows tracked here: https://t.co/hVkUczDQmz?amp=1
According to the CEO, the fund will help fight the global pandemic at first but eventually will shift to provide resources for education, healthcare, and universal basic income initiatives. As detailed by Jack Dorsey, he believes this fund will help alleviate some of the major problems the world is facing today, especially when it comes to universal basic income issues. He also believes in promoting health and educations for girls to ensure equality.
Other celebrities like Angelina Jolie, Lady Gaga and Blake, and Ryan Reynolds have also donated money to different organizations to help fight this global pandemic. It is expected that millions of people will lose their jobs as a consequence of current lockdown measures that are being taken to help flatten the infection curve.
Jack Dorsey is well-known in the crypto industry, having acknowledged his involvement with bitcoin. In more recent weeks, Dorsey also suggested Square’s CashApp as means to distribute the stimulus package approved by the United States Congress in the past days.