The co-founder and former CEO of Twitter, Inc., Jack Patrick Dorsey (born November 19, 1976) is an American Internet entrepreneur, programmer, and philanthropist. He is also the founder and chief executive officer of Block, Inc., a business that handles financial transactions.
Jack Dorsey Biography And Net Worth
| Net Worth | $7M |
| Birth Date | 19th November 1976 |
| Age | 45 |
| Profession | Businessperson Entrepreneur Software Architect |
| Nationality | United States of America |
Jack Dorsey Early Life
Tim and Marcia Dorsey’s son was raised in St. Louis, Missouri, where he was born. He’s got some Italian blood on his mother’s side. His mother was a stay-at-home mom, while his father worked for a firm that created mass spectrometers. He attended Bishop DuBourg High School. In his early years, Dorsey briefly worked as a fashion model.
Dorsey had an interest in dispatch routing at the age of 14. As of May 2007, some of the open-source software he developed for dispatch logistics was still in use by taxi businesses. Prior to moving to New York University in 1997, Dorsey enrolled at the University of Missouri-Rolla in 1995 and studied there for two years and more. However, two years later, just one semester shy of graduating, he left the university. While attending NYU, he had the concept that would eventually become Twitter.
Jack Dorsey Career
Obvious Corporation was formed by Evan Williams, Biz Stone, and Noah Glass; it later spun off Twitter, Inc., with Dorsey serving as its CEO (CEO). As CEO, Dorsey oversaw the firm through two rounds of VC investment. According to reports, he lost his job because he left work early to pursue hobbies like yoga and fashion design.
On October 16, 2008, Williams was appointed CEO and Dorsey was named board chairman. The action caused criticism since President Obama had stated there would be no intervention in Iran. Dorsey traveled to Russia in February 2010 as a member of another State Department mission. He rejoined Twitter as executive chairman on March 28, 2011, when Dick Costolo took over as CEO in Williams’ place. Costolo announced his resignation as CEO on June 10, 2015, and it became effective on July 1. Upon Costolo’s resignation, Dorsey was appointed as the company’s acting CEO. The Wall Street Journal referred to Jack as the “Innovator of the Year” in 2012. On December 24, 2013, Dorsey became a member of The Walt Disney Company’s board of directors. Together with Facebook COO Sheryl Sandberg, Dorsey appeared before the Senate Intelligence Committee in September 2018 about interference in the 2016 presidential election.
Block
In May 2010, Dorsey and co-founder Jim McKelvey created Square, a platform for small businesses to take debit and credit card payments on a mobile device. Business Insider magazine gave Square Inc. a US$3.2 billion valuation in September 2012. CEO of Square, Inc. is Dorsey. Square submitted its IPO application on October 14, 2015, in order to list on the New York Stock Exchange. The FDIC gave Square permission to start a bank in March 2020. It declared its intention to introduce Square Financial Services in 2021. Dorsey said in May 2020 that all Square employees will work remotely going forward.
Jack Dorsey’s Net Worth
The entire net worth of American web developer and businessman Jack Dorsey is $7 billion. In April 2022, when Elon Musk and Twitter reached an agreement to be acquired, Jack Dorsey had about 18 million shares or 2% of the company’s outstanding stock. Therefore, Jack’s 18 million shares were paid out at almost $974 million at the $54.20 acquisition price per share.
