CEO of Twitter, Jack Dorsey is an Internet Entrepreneur and American computer programmer who is also the CEO and founder of a mobile payments company Square. He was named by the MIT Technology Review TR35 under the age of 35 as one of the top 35 innovators in the world in 2008. With all of that well-deserved attention and sheer hard work, Jack Dorsey has a net worth of USD 3.3 billion. And now he is donating 28% of his net worth to a COVID-19 relief fund.
Jack Dorsey Net Worth in 2020
|Net worth||USD 3.3 billion (2020)|
|Full Name||Jack Patrick Dorsey|
|Born||November 19, 1976|
|Birth Place||St. Louis, Missouri, U.S.|
|Occupation||Programmer, Internet entrepreneur|
|Title||CEO of Twitter and Square, Inc.|
|Nationality||United States of America|
|Height||5 ft 10 in (178 cm)|
|Weight||In kilograms: 76 kg; In pounds: 166 lbs|
Jack Dorsey Properties
The billionaire Jack Dorsey is currently living a luxurious lifestyle and owns 3,588 square feet mansion which he purchased for USD 21.9 million back in 2019. The house has two-story-tall 5-bedroom, and 3-bathroom and features a detached two-car garage.
He also has a 3,730 square feet uber-contemporary home of worth USD 4.225 million in Hollywood Hills, Los Angeles, California. Designed by firm ANDstudio, the property features 5 bedrooms, 5 bathrooms with a balcony to an infinity-edge pool and spa.
Jack Dorsey Cars
The programmer Jack Dorsey has luxuries cars under his hat standing in his garage. But he doesn’t drive all. He once told the New Yorker in 2013 that BMW is the only car he drives because it’s the best automotive engineering on the planet.
What Contributed to Jack Dorsey Net worth?
With an astonishing net worth of USD 3.3 billion, Jack Dorsey as made billions through his hard work, and commitment in Twitter and Square. According to reports, his net worth jumped by USD 700 million in 2018 as both the companies were performing better. Twitter shares were appreciated by USD 65 million and his stake in Square has jumped by USD 668 million in 2018.
Twitter was created in March 2006 by Dorsey along with Biz Stone, Noah Glass, and Evan Williams. The app was then launched in July 2006 and rapidly gained worldwide popularity. In 2011, Twitter generated USD 139.5 million in advertising sales.
In 2018, Jack Dorsey earned just USD 1.40 to run the social network Twitter and declined all other equity compensation and benefits for 2015, 2016 and 2018. CEOs have faith in the company and that’s the idea behind the low salary.
In May 2010, Dorsey and co-founder Jim McKelvey developed Square which is a business platform on a mobile device. The company was valued at USD 3.2 billion in 2012 by Business Insider magazine. Jack Dorsey owned 24.4% of the company as of 2015.
In 2018, Square worth rise up to USD 23.6 billion, that was just closer to Twitter’s USD 26 billion stock market value.
He also served as a judge in 2011 for New York City Mayor Michael Bloomberg’s NYC BigApps competition and has surely earned some hefty dollars. Jack is also a board member of the Berggruen Institute’s Governance Center.
On December 24, 2013, Jack joined the board of directors of The Walt Disney Company.
Dorsey has also personally invested his own money in many projects and companies such as:
Early Life and Career
Jack Dorsey was born in St. Louis, Missouri on November 19, 1976, to Tim and Marcia Dorsey. His mother was a homemaker and father worked for a company that developed mass spectrometers.
Jack didn’t complete his graduation though he attended two-plus years (1995–97) at Missouri University of Science and Technology before transferring to New York University. But he took a drop in 1999.
While attending Bishop DuBourg High School Dorsey he started programming and wrote dispatch software at the age of 15 that is still used by some taxi companies. He started his company in Oakland in the year 2000 to dispatch taxis, couriers and emergency services from the Web.
How Twitter was born?
In 2000, while working on dispatching, he got the idea for a Web-based short message communication service. But he put away the idea for a bit as nobody seemed interested. But, things changed when he got a job in Odeo, a podcasting company and met future Twitter cofounders.
The idea attracted many users and therefore twitter prototype was built in just two weeks with the help of Biz Stone. Evan Williams who is now a permanent CEO of Twitter invested the company, who had left Google after selling Blogger and Pyra Labs.
With the help of cofounders, Jack bought the Twitter domain name for roughly USD 7000.
Jack Dorsey posted the very first tweet on March 21, 2006.
Dorsey donated USD 350,000 to #TeamTrees, a nonprofit started by MrBeast YouTuber in October 2019, that pledged to plant 20 million trees by the end of 2019.
Currently, Jack Dorsey announced on April 7, 2020, that he will donate USD 1 billion of his stake in Square to help fund the coronavirus relief effort.
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
— jack (@jack) April 7, 2020