The co-founder and chief executive officer of Twitter, is stepping down from his role effective immediately.
The billionaire, Jack Dorsey, will stay onboard the platform's tech team until his term ends in 2022 but the CEO role will now be taken on by the company’s Chief Technology Officer Parag Agrawal.
Dorsey stepped down as CEO of Twitter in 2008, but returned to the company in 2015 but this time it appears it's for good.
In a statement, he said: "I’ve decided to leave Twitter because I believe the company is ready to move on from its founders.
“My trust in Parag as Twitter’s CEO is deep. His work over the past 10 years has been transformational. I’m deeply grateful for his skill, heart, and soul. It’s his time to lead.”
The 45-year-old is also said to be the head of payments company Square Inc. and has been taking an increasing interest in cryptocurrencies recently – which begs the question, just how much is he worth?
According to Forbes, Dorsey has an estimated net worth of $11.7 billion as of Monday, November 29.
However, he's never shied away from giving back to charity as Bloomsburg has revealed that has donated millions to companies and causes throughout his career.
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Reports say just days before the Easter Sunday event last year, Dorsey had announced a plan to donate almost 20 million shares of Square Inc., the payments firm he co-founded, worth $1 billion at the time, primarily to Covid-19 relief.
On the night of a dance a-thon which was raising money to fight the pandemic in communities of colour, he tweeted: "Giving $2mm to @DirectRelief. Thank you @Diddy.”
“I honestly don’t know what the decision-making was on his part,” said Direct Relief Chief Executive Officer Thomas Tighe, who’s never talked to Dorsey. “It was certainly timely.”
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