Apr 7, 2020 - Health

Jack Dorsey pledges $1 billion in Square equity for coronavirus relief

In this image, Dorsey stands

Jack Dorsey. Photo: Victor Boyko/Getty Images for Chrome Hearts

Twitter CEO Jack Dorsey tweeted Tuesday that he is reallocating $1 billion of his equity from Square, a payment processor for smaller merchants, to fund relief for the coronavirus pandemic.

Details: Dorsey's "Start Small" fund donated $100,000 on April 2 to a GoFundMe working with Feeding America and World Central Kitchen to address food insecurity caused by COVID-19.

What he's saying: "After we disarm this pandemic, the focus will shift to girl's health and education, and UBI," or universal basic income, Dorsey tweeted Tuesday.

Background: Twitter said it would allow advertising containing references to the coronavirus under certain use cases on Friday. The social network has cracked down on misinformation related to the virus with harsher rules than those that apply to other kinds of false posts.

Go deeper: Jack Dorsey gets a bank

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