Jack Dorsey Net Worth

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Twitter world was shocked with the announcement of the CEO of Twitter named Jack Dorsey who would step down as the CEO and would appoint Parag Agrawal as his successor. It has been years since Dorsey was named as a CEO of Twitter, which is quite a long time.

With his resignation, everyone is wondering about how much he has made from Twitter and about his net worth in general. If you are also wondering about the same thing, you can find the answer by reading the full post.

Jack Dorsey Net Worth

Details

    • Birth name: Jack Patrick Dorsey
    • Place of birth: St. Louis, Missouri, United States
    • Date of birth: November 19, 1976
    • Age: 45 years old
    • Education: University of Missouri-Rolla (no degree), New York University (no degree)
    • Occupation: Programmer, internet entrepreneur
    • Known for: Co-founding Twitter and Square, Inc.
    • Title: CEO of Square, Inc.
    • Board member of: Square, Inc., Berggruen Institute’s Governance Center

Net Worth

As of 2021, Jack Dorsey is reported to have an estimated net worth of 13.8 million, according to Forbes.

Career

Jack Dorsey started a new company called Obvious, which later turned into Twitter, along with Biz Stone and Evan Williams. He was appointed as the CEO of the company. Just within two weeks, he had built a simple site where everyone would be able to post short messages consisting of 140 characters or less. On March 21, 2006, he posted the first tweet ever saying “just setting up my twttr”. Two years later, the co-founder named Evan Williams took over Dorsey’s position as the CEO. After the takeover, Dorsey then moved as a chairman of the company.

In the earlier days, Twitter got so much hate and was considered as a place for the shallow and self centered people to share their simple life to public. The popular TV host named Conan O’Brien even had a segment entitled Twitter Tracker where the users of the service are mocked. The thing got harder when the site also suffered from frequent service outages. Fortunately, the situation started to get better when celebrities and CEOs of the companies started to use the platform. Since then, this platform is no longer known as the place for jokers. It suddenly became the leader of the microblogging movement and it became a well-known platform in the United States. In 2008, it was used by the presidential candidates Barack Obama and John McCain as a platform to update their supporters during the campaign.

A year later, the popularity of Twitter skyrocked after the June 2009 presidential election in Iran. At the time, thousands of the supporters of the opposition party dominated the streets to protest the claimed victory of the incumbent named Mahmoud Ahmadinejad. Twitter was used by the protestors when the text messaging and satellite feeds of foreign new coverage were blocked by the government. To provide the protesters a platform to update something, a U.S. Senate Department official even asked Jack Dorsey to delay its scheduled maintenance.

Following his success with Twitter, Jack Dorsey teamed up with Jim McKelvey to develop a small business platform to accept debit and credit card payments on mobile device. This one is known as Square. It was released in May 2010. It is attaches to some different kinds of devices, including iPhone, iPad, iPod Touch, and Android. With this, everyone is allowed to swipe their card, select an amount to transfer to someone, and then sign their name to confirm. Aside from that, the thing called Square is also known as a system for sending paperless receipts via text message or email.

In December 2009, Square had only 10 employees and the number increased to 100 in June 2011. The company is located on Market Street locate din San Francisco, California, United States. As one of the founders of the company, Jack Dorsey is named as the CEO. Not only that, he is also known as a stockholder, owning 24.4% stocks of the company. In March 2020, the company got a permission from the FDIC to open a bank. This year, it is also scheduled to launch Square Financial Services.

The company named Square keeps getting bigger. Last year, it started withholding for months up to 30% of the funds that are collected by the merchants from the customers using its Cash App.

In addition to Twitter and Square, Inc., Jack Dorsey also has some other projects. in 2013, he said that he admires Michael Bloomberg a lot to CNN. Not only that, he also expressed his desire to be a mayor of New York City. Two years before that, he took part in Bloomberg’s NYC BigApps competition as a judge.

On December, 2013, the man was announced as a new member of the board of directors of The Wall Disney Company. In January three years ago, there was a report saying that he would not seek reelection at March annual meeting of Disney due to the increased difficulty with conflicts of interest.

Right now, he is known as a board member of the Berggruen Institute’s Governance Center. Plus, he is also the one that gives advice in a chapter of a book by Tim Ferriss named Tools of Titans.

Awards and Recognition

Jack Dorsey has earned some awards and recognitions, including:

    • 2008: Jack Dorsey was named to the MIT Technology Review TR35 as one of the top 35 innovators in the world below the age of 35.
    • 2012: Jack Dorsey was given the Innovator of the Year Award for technology by The Wall Street Journal.
    • 2012: Jack Dorsey was named as the Founder of the Year at the 5th Annual Crunchies Awards that was hosted by TechCrunch.
    • 2013: Jack Dorsey was considered by Forbes as the most eligible bachelor in the world.
    • 2016: Jack Dorsey was ranked by Fox Business as the fourth Worst CEO of 2016, falling stock prices, citing stagnant growth, and his part time commitment to Twitter.
    • 2017: Jack Dorsey was listed among the 2017 Worst CEOs in America by 24/7 Wall St.

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