As the coronavirus cases continue to soar in the United States, the number of companies and top executives committing huge amounts in relief aid for the affected sectors have also significantly increased.
The co-founder and chief executive of Twitter pledged $1 billion of his personal fortune towards efforts to tackle the coronavirus pandemic.
Jack Dorsey said he would use his shares in his payment app Square to fund the donations which will be distributed through his limited liability corporation Start Small.
The amount that the 43-year-old boss will donate is equivalent to 28% of his overall wealth. Dorsey added that he is using shares in Square, instead from Twitter, because he owned “a lot more” of them.
Other tech billionaires like Facebook’s Mark Zuckerberg and Amazon’s Jeff Bezos have also earlier committed millions to fund COVID-19 relief.
Bulk of Zuckerberg’s $30 million donation was intended for creating coronavirus treatment while Bezos’ $100 million funds were given to food banks.
Last month, Google also unveiled its $800 million relief package to help businesses, frontliners as well as government agencies who strive to boost their coronavirus campaigns.
American Fashion giants Tiffany & Co. and AG Jeans have each committed $1 million to organizations battling the deadly virus.
The jeweler said it will distribute the amount for the COVID-19 Solidarity Response Fund for the World Health Organization and The New York Community Trust’s NYC COVID-19 Response & Impact Fund.
“During this global health crisis, we must all be responsive to the urgent needs of our global communities,” said Anisa Kamadoli Costa, the chairman and president of Tiffany & Co. Foundation.
For its part, the popular denim brand said it will donate to the COVID-19 LA County Response Fund to address the needs of hospitals and clinics across the country.
“We stand together as a community to endure, support and heal one another,” AG Jeans said in a company statement.
