Dorsey Jack (Jack Dorsey)

Dorsey Jack (Jack Dorsey)

Biography

2018

Belief in Bitcoin

On March 21, 2018, Jack Dorsey announced that in ten years, and possibly earlier, one cryptocurrency will remain in the world, and it will be bitcoin.

Billions of users will use Bitcoin. In the end, a single currency will remain in the world and on the Internet. Personally, I believe that it will be bitcoin, - said Jack Dorsey.

According to him, Bitcoin is still experiencing certain problems, among which slow and expensive transactions are not the last place, preventing it from being used as a reliable and ubiquitous means of payment. However, Dorsey believes that further developments in the technology will inevitably lead to the necessary changes. The co-founder and CEO of Twitter himself is actively investing in projects involved in the development of the Lighting Network, which will help solve these problems, and the Square company he created allowed the purchase and sale of bitcoin in its application.

However, US economists are not inclined to agree with Dorsey and believe that bitcoin is unlikely to become a single internet currency. Many of them argue that despite the excitement around cryptocurrencies, it will not be bitcoin that will be used more effectively in the future, but the blockchain technologies associated with it. Even those who predict a bright future for cryptocurrency are confident that worthy alternatives to bitcoin will soon appear, writes Fortune.

Meanwhile, on March 18, 2018, it became known that Twitter plans to ban advertising of initial cryptocurrency placements, sales of tokens and cryptocurrency wallets, and the new rules should begin to operate in April 2018. Facebook and Instagram have already banned the placement of advertisements with cryptocurrency, as, according to companies, the financial risk associated with them undermines the credibility of services.^[1]

Clothing style and budget counterparts

Twitter CEO Jack Dorsey opts for more expensive and stylish pieces. For example, he often wears Rick Owens brand sneakers for $1,000. But Dorsey's "black" look may not be so expensive: having bought an elongated H&M T-shirt for $10, tight $75 Topman jeans and $60 Calvin Klein Ibiza sneakers, the wallet will be empty for only $145, but fans of the head of Twitter can be like their idol.

Jack Dorsey is a fan of black style

2020

Donation of $1 billion to fight COVID-19

On April 7, 2020, Jack Dorsey announced a $1 billion donation to fight the COVID-19 coronavirus. The founder and CEO of Twitter wrote about this on his page on this network.

The entrepreneur allocates funds - approximately 28% of his fortune - to the Start Small fund through a stake in his fintech company Square. After the pandemic is overcome, the remaining funds will be directed to the health and education of girls. The founder of Twitter also noted that he intends to maintain the transparency of his donations so that "others can learn from this."

Twitter founder donates $1 billion to fight COVID-19

He stressed that both his donation and remittances from the fund will be public. The businessman offered to monitor donations  through a Google document. It states that the first grant in the amount of $100,000 will go to food supply for those who have suffered from the new type of coronavirus.

The problem is becoming more pressing every day. And we have to help resolve it. I think it is important to demonstrate my work so that both myself and the rest can learn from it, "Dorsey pointed out, adding that he had previously made many anonymous donations. "I hope it inspires others to do something similar.

Exactly how Jack Dorsey is going to spend money in connection with the fight against coronavirus and the consequences of the pandemic, he did not indicate. According to the Air Force, the United States has an acute shortage of ventilators for patients, personal protective equipment for doctors, as well as people and companies suffer from economic losses caused by quarantine restrictions. Most likely, the donations of the head of Twitter will go to solve these problems.

By the beginning of April 2020, Forbes magazine estimates Dorsey's fortune at $3.3 billion, he is in 660th place in the ranking of the richest people in the world.^[2]

Jack Dorsey reveals he eats 7 once a week and meditates for 2 hours daily

Founder and CEO Twitter Jack Dorsey answered user questions in a video from Wired. People were interested not only in the social network, but also in the lifestyle of the entrepreneur. For example, he said that he eats once a day in the evening.

The entrepreneur said that he eats once a day during the working week, and from Friday evening to Sunday he goes hungry. 'The first time<…> I felt like I was hallucinating. It was weird. But after I did it [not eating two days a week] two more times, I realized how much our days revolve around food. Time [for me] really slowed down, "Dorsey described his experience.

2021: Quitting Twitter

Jack Dorsey, Twitter's co-founder and chief executive officer, is leaving his post, sources said in November 2021.

Dorsey, 45, is also the head of payments company Square and has recently shown an increased interest in cryptocurrencies.

Dorsey faced suspension in 2020 when Twitter shareholder Elliott Management tried to replace him.

Elliott Management founder and billionaire investor Paul Singer questioned whether Dorsey could run both public companies, urging him to step down as CEO of one before the investment firm reached an agreement with the company's management.

2023: $526m fortune cut after Hindenburg Research attack on Block

Jack Dorsey's fortune fell by $526 million after the "Hindenburg Research" short seller attack on Block.

Hindenburg released a report on March 23, 2023, claiming that Block had inflated user performance and that the company's shares had the potential to fall between 65% and 75% "on a purely fundamental basis." The company has denied those claims and said it plans to explore legal action.

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