The DAF assets have a market value of $1.3b and has dispersed $85m since April 2, 2020 to a variety of COVID-19 relief causes according to a public Google document that Dorsey set up to disclose his donations.
He said the $1 billion represents about 28% of his wealth. The funds will be distributed through his Start Small LLC charitable fund. “Why now? The needs are increasingly urgent, and I want to see the impact in my lifetime,” Dorsey, 43, wrote on Twitter. “I hope this inspires others to do something similar. Life is too short, so let’s do everything we can today to help people now.” Dorsey said that “After we disarm this pandemic,” the focus of the fund will shift to two other causes: girls health and education and universal basic income (UBI).