| Net Worth: | $7 Billion |
|---|---|
| Date of Birth: | November 19, 1976 (47 years old) |
| Gender: | Male |
| Height: | 5 ft 10 in (1.8 m) |
| Profession: | Software Architect, Businessperson, Entrepreneur |
| Nationality: | United States of America |
What is Jack Dorsey’s net worth? How does Jack Dorsey make his money? Below is the current net worth of Jack Dorsey and how Jack Dorsey makes his money.
What is Jack Dorsey’s Net Worth?
Jack Dorsey is an American Entrepreneur and Web developer who has a net worth of $7 billion. His source of wealth is interestingly derived mainly from being the co-founder and co-creator of Twitter and ownership of the mobile payments company Square.
He owned roughly 18 million shares, or 2% of all Twitter shares outstanding, when Elon Musk agreed to acquire them in April 2022. His 18 million shares were therefore sold for about $974 million at the $54.20 acquisition price per share.
Square, which was renamed Block Inc., is currently owned by Jack Dorsey, who owns about 43 million shares. These shares are currently worth around $4.5 billion. He also has access to cash and other assets worth about $1 billion.
Childhood
On November 19, 1976, in St. Louis, Missouri, Jack Dorsey was brought to this world. At a very tender age, he developed an interest in computers and communications, and while still schooling at Bishop DuBourg High School in St. Louis, he started programming.
He developed an early interest in computers and communications. The logistical challenge of coordinating taxi drivers, delivery van drivers, and other fleets of vehicles that needed continual, real-time contact with one another fascinated him.
Dorsey created dispatch software at the age of 15 that some taxicab companies today still make use of currently.
At age 17, Jack broke into the biggest taxi dispatch service on New York City’s website. He sent the CEO of the dispatch company an email as a kind-hearted hacker and proposed fixing the flaw.
Jack then started working at Odeo, a podcasting company founded by Evan Williams, who is also the founder of Blogger and would later found Medium.
In order to come up with new features for Odeo, Jack, Evan Williams, Biz Stone, and Noah Glass engaged in what was later referred to as a “daylong brainstorming session” in 2006.
A microblogging and messaging concept that Dorsey tested with Blackberry phones while he was at NYU was one of the ideas that came out of that meeting. The group decided to work on what they referred to as “project twitter” after deciding that they liked the concept.
Some detractors mocked Twitter when it first began, calling it a tool for shallow and conceited people to broadcast the details of their lives to the entire world. The website experienced numerous service interruptions in its early years.
Twitter was no longer the target of so many jokes, though, as CEOs and celebrities alike started “tweeting.” John McCain and Barack Obama used Twitter, which was overnight the leader of the “microblogging” movement, to keep their supporters up to date while out campaigning.
Jack Dorsey later invested in the social networking company Foursquare and started a new business called Square, which enables people to accept credit card payments through a small device plugged into their computers or mobile phones.
Donation of $1 Billion
About 60 million shares of Square, a mobile payments company, were owned by Jack as of April 2020. Those 60 million shares had a value of $3.6 billion as of April 2020.
When he made the announcement, he was worth $1 billion, or 28% of his total wealth, which at the time meant he had previously been worth $3.57 billion. His Twitter shares at that time were “just” worth $530 million.
Because of this wealth disparity, Jack has faced many criticisms from Twitter investors who believe he doesn’t devote enough time to actually doing the job of CEO.
Real estate
For a house in the Hollywood Hills of Los Angeles, Jack Dorsey paid $4.22 million in August 2018. A buyer who paid $4.6 million bought the house two months after he listed it for sale in August 2019.
A large San Francisco home was later purchased by Jack for $10 million and has been his primary residence since 2012. The neighboring house cost him $22 million in 2017.
For just $2.85 million, the sellers purchased that home in 1997. When he was in San Francisco, Dorsey was rumored to commute every day by foot covering about 5 miles.
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