Jack Dorsey is an American entrepreneur and computer programmer, best known as the co-founder and CEO of Twitter. He has also co-founded and led other notable tech companies such as Square, Inc. Let’s dive deeper into his personal life, career, and net worth.
Personal Life of Jack Dorsey
Jack Dorsey was born on November 19, 1976, in St. Louis, Missouri. He attended Bishop DuBourg High School and later the Missouri University of Science and Technology, but dropped out before completing his degree. Dorsey has publicly spoken about his childhood love for maps, cities, and public transportation, which later influenced his vision for Twitter. He has also been open about his struggles with anxiety and the importance of mindfulness and meditation in his life.
How did Dorsey’s career grow?
Dorsey’s career started with a job as a programmer in a company that dispatched taxis in St. Louis. This inspired him to come up with an idea for a messaging service that used short status updates, and he began working on a prototype in his spare time. In 2006, Dorsey co-founded Twitter, which quickly became a popular social media platform, allowing users to post short, 280-character messages or “tweets”. Twitter has since grown into a global phenomenon, used by millions of people every day to communicate, share information, and follow news and events in real-time.
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In addition to Twitter, Dorsey is also the co-founder and CEO of Square Inc., a financial services and mobile payment company that provides hardware and software solutions for small businesses. Square was founded in 2009 and has since grown into a publicly traded company with a market cap of over $100 billion.
Despite his success, Dorsey has faced criticism over his leadership style and the content moderation policies of Twitter, particularly in the wake of controversial events like the 2016 U.S. presidential election and the COVID-19 pandemic.
Jack Dorsey Net Worth: Over 11 billion?
As of 2021, Jack Dorsey’s net worth is estimated to be around $11.2 billion. He has made most of his fortune through his stakes in Twitter and Square Inc. However, Dorsey has also made a significant impact through his philanthropic efforts, including donations to COVID-19 relief efforts and other causes such as education and small business development.
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Dorsey and the Bitcoin connection
Dorsey, a supporter of Bitcoin, its ecosystem, and technology, has provided numerous comments on the cryptocurrency market. His support for Bitcoin is well-known because he has a powerful voice in the tech sector.
At Dorsey’s direction, Square allocated $50 million to Bitcoin in one of the more important cryptocurrency moves of 2020. Following similar actions by business intelligence company MicroStrategy and billionaire hedge fund founder Paul Tudor Jones, Square made public its BTC purchase.
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The setback
Less fortunate, Twitter experienced a significant breach in mid-July. During the hack, malicious actors took control of the accounts of numerous prominent individuals, including Bill Gates, Elon Musk, and many others. The goal of the operation was to con unwary victims out of their cryptocurrency funds. Dorsey later issued an apology, blaming the incident on obsolete security protocols.
Dorsey kept his position as Twitter CEO before Musk’s takeover, however, he was already determined to quit the company for focusing on Bitcoin and Sqaure Inc. He is speculated to expand his company to Africa, as he expressed his desire to set it up in the continent which he visited the most. Jack Dorsey has also been pushing to make Bitcoin the currency of the internet. He thinks that an open and decentralized financial system is especially necessary for places where locals need to be empowered against closed markets and authoritarian governments.
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