What is Jack Dorsey’s net worth? Twitter’s founder and his other investments
Jack Dorsey, Twitter’s founder left the platform shortly before it was purchased by Elon Musk. A look at his other companies and investments...
In 2006, four individuals - Jack Dorsey, Noah Glass, Biz Stone, and Evan Williams - co-founded Twitter. The idea initially came from Dorsey, who was an undergraduate student at New York University. He envisioned a social media platform that would allow users to share messages with their followers via SMS. This small idea blossomed into one of the most widely used social media platforms worldwide, garnering a staggering 350 million users over the last seventeen years.
Dorsey had two separate periods as CEO of Twitter. The first was from 2006 to 2008 when he was succeeded by Evan Williams. Then, in 2015, he returned to the position after Dick Costolo’s resignation. Between 2008 and 2015, Dorsey was the chairman of Twitter’s board and executive chairman of the platform.
Jack Dorsey’s net worth
Forbes reports that Dorsey’s net worth stands at $4.4 billion, largely attributed to his tenure at Twitter. However, his wealth has also been boosted by other business ventures and investments. Unlike some of his colleagues on the Twitter board, Dorsey was in favor of Elon Musk’s acquisition of the social media platform. Both billionaires share a passion for cryptocurrency and “free speech,” and their interactions indicate a cordial relationship.
In November 2021, Dorsey exited Twitter to focus on the financial and payment company Square, which is now called Block, which he started in 2009 with Jim McKelvey.
Dorsey is a major proponent of Bitcoin
In addition to his business ventures, Dorsey has been a public supporter of cryptocurrencies, most notably Bitcoin. Bitkan and many other outlets have described Dorsey as a “Bitcoin maximalist.” Exactly how much Bitcoin the billionaire owns is unknown. Bitkey, a cryptocurrency wallet that Dorsey supported the development of, launched this week in a Beta version.
The wallet differs from others available in that the software is free, and according to the website, the “wallet files are stored in a LUKS encrypted loopback filesystem.” One of Dorsey’s main aims in supporting Bitkey was to reduce fraud in the cryptocurrency market after the developers said they were unable to “find a solution that satisfied our paranoia so we rolled our own.”