Explanation

Jack Dorsey is devoting $1 billion of his stake in Square Inc., the payments firm he co-founded, to help fund the coronavirus relief effort. “After we disarm this pandemic, the focus will shift to girl’s health and education, and UBI,” Dorsey said Tuesday in a tweet, referring to universal basic income. The pledge represents about 28% of his wealth, he said. Dorsey, also the co-founder of Twitter Inc., has a net worth of about $3.9 billion, according to the Bloomberg Billionaires Index.