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What is Jack Dorsey’s net worth?

Jack Patrick Dorsey is the co-founder and CEO of Twitter

He is currently one of the richest people in the world

In this article, Glusea brings you Jack Dorsey’s net worth and everything else you need to know about him.

Jack Dorsey fortune profile

Net worth $ 14 billion
Full name Jack Patrick Dorsey
birth date November 19, 1976
occupation Technology entrepreneur
nationality American
title CEO by Twitter and Square Inc.
active years 2008 – today

Who is Jack Dorsey?

Jack Patrick Dorsey is an American billionaire, technology entrepreneur, and philanthropist, the co-founder and CEO of Twitter, and the founder and CEO of Square, a financial services company.

Early life

Dorsey was born and raised in St. Louis, Missouri, the son of Tim and Marcia (née Smith) Dorsey.

He is of Irish, German and Italian descent. His father worked for a company that developed mass spectrometers and his mother was a housewife. He was raised a Catholic and his uncle is a Catholic priest in Cincinnati.

Dorsey attended Bishop DuBourg Catholic High School. In his youth, Dorsey worked occasionally as a model.

At the age of 14, Dorsey became interested in dispatch routing. Some of the open source software he created in the field of shipping logistics is still used today by taxi companies.

Dorsey enrolled at the University of Missouri-Rolla in 1995 and attended it for over two years before moving to New York University in 1997, but dropped out two years later, one semester before graduation.

He got the idea out of it eventually. became Twitter while studying at NYU.

Jack Dorsey career

Before Twitter

While working as a programmer on dispatching, Dorsey moved to California. In 2000, Dorsey founded his Oakland company to send couriers, taxis, and emergency services over the Internet.

His other projects and ideas during this time included networks of medical products and a “smooth service market”. In July 2000, based on dispatching and partly inspired by LiveJournal and AOL Instant Messenger, he had the idea for a web-based real-time status / short message communication service.

When he first saw instant messaging implementations, Dorsey wondered if the software’s user status output could easily be shared among friends.

He reached out to Odeo, who was interested in text messaging at the time. Dorsey and Biz Stone decided that SMS text would go with the status message idea and built a prototype of Twitter in about two weeks.

The idea attracted many users at Odeo and investments from Evan Williams, a co-founder of the company in 2005 who left Google after selling Pyra Labs and Blogger.

Twitter

Williams, Stone, and Noah Glass formed Obvious Corporation, which then spun off Twitter, Inc., with Dorsey as chief executive officer (CEO).

As CEO, Dorsey accompanied the startup through two financing rounds by venture capitalists. He reportedly lost his position because he left work early to enjoy other pursuits such as yoga and fashion design.

As the service grew in popularity, Dorsey made improving uptime a top priority, even before generating revenue that Twitter hadn’t been designed for since 2008.

Dorsey described the commercial use of Twitter and its API as two things that could result in paid features.

He says his three guiding principles that the company shares are simplicity, coercion, and craftsmanship.

In 2008, Dorsey was relieved of his post as Twitter CEO and became chairman of the Twitter board of directors.

On June 10, 2015, Costolo announced his resignation as CEO with effect from July 1, 2015. Dorsey took over the post of interim CEO after Costolo’s departure. He was appointed permanent CEO on October 5, 2015

Jack Dorsey’s net worth rose due to revenue from Twitter. He is also a bitcoin preacher.

Square, Inc.

Dorsey partnered with co-founder Jim McKelvey to develop a platform for small businesses to accept debit and credit card payments on a mobile device called Square, which was released in May 2010.

The small, square device is connected to an iPhone, iPad, iPod Touch or Android device via the headphone jack and, as a mini card reader, enables a person to swipe their card, select an amount for the transfer to the recipient and then sign their name Confirmation.

Square is also a paperless system for sending receipts via SMS or email and is available as a free app for iOS and Android operating systems.

The company grew from 10 employees in December 2009 to over 100 in June 2011. Square’s office is located on Market Street in San Francisco.

In September 2012, Business Insider Magazine values ​​Square Inc. at $ 3.2 billion. Dorsey is the CEO of Square, Inc.

Jack Dorsey’s net was cushioned by Square In’s revenue.

Other Projects

Dorsey was announced as a new member of the Board of Directors of The Walt Disney Company on December 24, 2013.

Dorsey is a board member of the Berggruen Institute’s Governance Center. Dorsey gives advice in a chapter of Tim Ferriss’ book Tools of the Titans.

politics

In 2019, Dorsey contributed financially to the campaigns of 2020 Democratic presidential candidates, Tulsi Gabbard and Andrew Yang.

By 2021, Dorsey applied exemptions for “world leaders” that would allow President Donald Trump to post content on Twitter that would normally be removed or sanctioned under the platform’s rules.

In May 2020, some of Trump’s tweets received warning labels, and starting with election day in November 2020, his tweets were given additional flags.

On January 6, 2021, after pro-Trump supporters stormed the U.S. Capitol, Twitter imposed a 12-hour hiatus on Trump’s account for violating his civic integrity guidelines.

Trump’s account was permanently suspended on January 8th. On January 14, Dorsey defended Trump’s ban.

Jack Dorsey fortune

Jack Dorsey’s net worth in 2021 is approximately $ 14 billion, making him one of the richest CEOs in the world. According to Business Insider, Twitter made Dorsey a billionaire.

Philanthropic and other donations

In March 2016, Dorsey fully funded around 600 Missouri public school projects that were registered with DonorsChoose.

In October 2019, Dorsey donated $ 350,000 to #TeamTrees, a nonprofit founded by YouTuber MrBeast that is committed to planting 20 million trees by the end of 2019.

On April 7, 2020, Dorsey announced that he will be shifting approximately $ 1 billion of his equity to Square, Inc., just under a third of his total assets, into Start Small, LLC and into coronavirus-related aid programs.

He pledged to fund COVID-19 aid, girls’ education and health, and the universal basic income. Dorsey donated $ 24 million to over 40 different fellows for relief efforts.

In August 2020, Dorsey donated $ 10 million to Boston University’s Center for Antiracist Research, founded by Ibram X. Kendi.

Awards and recognition

Jack Dorsey has won several awards and honors including;

  • In 2008 he became MIT technology assessment TR35 as one of the 35 best innovators in the world under 35 years of age.
  • In 2012, The Wall Street Journal awarded him the “Innovator of the Year Award” for technology.
  • At the 5th Annual Crunchies Awards in 2012, hosted by TechCrunch, Dorsey was named Founder of the Year.
  • In 2013 he was from Forbes the most sought-after Bachelor in the world.

What is your net worth to Jack Dorsey? Let’s discuss in the comments below

Source: Glusea

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