Twitter founder Jack Dorsey has pledged $1 billion to coronavirus relief, universal basic income, and girls' education.
Business Insider reports that millionaires, billionaires, and tech luminaries are applauding Dorsey.
Dorsey said the new fund will be backed by his Square equity. He estimates it's about 28% of his wealth.
"That's awesome, @jack," Ev Williams, the CEO of Medium and a Twitter cofounder, tweeted on Tuesday.
Businessman Mike Bloomberg said Dorsey's new fund is a "powerful testament" to Dorsey's commitment to helping others.