Twitter’s Jack Dorsey To Donate $3 Million To Universal Basic Income Program


Twitter cofounder Jack Dorsey has announced his plan to donate $3 million to a universal income program

Billionaire co-founder of Twitter, Jack Dorsey, has announced that he is donating millions to an experimental universal basic income program, according to Business Insider.

Dorsey has said that he is donating $3 million to Mayors for a Guaranteed Income, which is a group of mayors from several US cities who plan to start guaranteed-income pilot programs in their cities. The group has announced that the program could affect about 7 million people in cities like: Los Angeles; Atlanta; New York; and Jackson, Mississippi.

Dorsey has an estimated net worth of $7.5 billion and he said he’d be contributing $3 million from his non-profit into the program. This comes after he pledged to donate $1 billion to coronavirus relief efforts in April. Supporters of the program say that it will help bridge the divide between the richest and poorest Americans.

Other wealthy Americans have also supported universal basic income programs. Andrew Yang, an entrepreneur and former Democratic candidate for president, ran his campaign with a universal income as one of his presidential goals.

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Economics, Finance and Investing