The Twitter co-founder and Bitcoin enthusiast
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 technology companies such as Square, Inc. Let’s dive deeper into his personal life, career and net worth.
Jack Dorsey’s Personal Life
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 spoken publicly about his childhood love of 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 began with a job as a programmer at 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 founded Twitter, which quickly became a popular social media platform that allows 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 payments 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 value of over $100 billion.
Despite his success, Dorsey has faced criticism over his leadership style and content moderation policies on Twitter, particularly in the wake of controversial events such as the 2016 US presidential election and the COVID-19 pandemic.
Jack Dorsey’s 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 holdings 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 made a number of comments about the cryptocurrency market. His support for Bitcoin is well known because he has a powerful voice in the technology sector.
At Dorsey’s direction, Square allocated $50 million to Bitcoin in one of the most significant cryptocurrency moves of 2020. Following similar actions by business intelligence company MicroStrategy and billionaire hedge fund founder Paul Tudor Jones, Square went public with its BTC purchase.
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The setback
Less fortunately, Twitter experienced a significant outage in mid-July. During the hack, malicious actors took control of the accounts of a number of prominent people, including Bill Gates, Elon Musk and many others. The goal of the operation was to trick unwary victims out of their cryptocurrency funds. Dorsey later issued an apology, blaming the incident on outdated security protocols.
Dorsey retained his position as Twitter CEO before Musk’s takeover, but he was already determined to leave the company to focus on Bitcoin and Sqaure Inc. He is speculated to expand his company into Africa, as he expressed his desire to establish it in the continent he visited most. Jack Dorsey has also pushed to make Bitcoin the currency of the internet. He believes that an open and decentralized financial system is especially necessary for places where the local population needs to be strengthened against closed markets and authoritarian governments.
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