Jack Dorsey’s Net Worth
As of October 2023, Jack Dorsey’s net worth is estimated to be approximately $3.1 billion. This figure reflects a significant decrease from earlier estimates, primarily due to fluctuations in the stock market and changes in the valuation of his companies, particularly Block, Inc. (formerly Square) and Twitter.
Sources of Wealth
Dorsey’s wealth is largely derived from his stakes in two major companies he co-founded:
- Block, Inc.: Dorsey holds a substantial ownership stake in Block, Inc., which has seen considerable growth since its inception as Square in 2009. The company focuses on financial services and has expanded into cryptocurrency trading, significantly impacting its market value.
- Twitter: Although Dorsey stepped down as CEO of Twitter in November 2021 and the company was sold to Elon Musk in 2022, he retained a minority stake in Twitter at the time of the sale. His shares were valued at nearly $974 million when Musk acquired the platform.
Philanthropic Contributions
Dorsey is also known for his philanthropic efforts, having pledged over $1 billion to various causes through his Start Small LLC initiative. This commitment represents a significant portion of his wealth and reflects his focus on social issues such as COVID-19 relief and universal basic income.
Recent Developments
In recent years, Dorsey’s net worth has fluctuated due to various factors including market conditions affecting tech stocks and his ongoing investments in cryptocurrency ventures. His advocacy for Bitcoin and other decentralized technologies continues to shape his financial landscape.