This video is about Jack Dorsey Net Worth 2023
$4.4 Billion as of June 2023
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Jack Patrick Dorsey (born November 19, 1976) is an American Internet entrepreneur, philanthropist, and programmer who is a co-founder and former CEO of Twitter, Inc., as well as co-founder, principal executive officer and chairperson of Block, Inc., the developer of the Square financial services platform. He is also a co-founder of Bluesky, PBLLC, where he currently sits on the board of directors, with Jay Graber serving as CEO.
Noah Glass, Evan Williams, and Biz Stone co-founded Odeo, later renamed Obvious Corporation, which then spun off Twitter, Inc. Dorsey became Twitter's Chief Executive Officer (CEO). As CEO, Dorsey saw the startup through two rounds of funding by venture capitalists. He reportedly lost his position for leaving work early to enjoy other pursuits, such as yoga and fashion design.
As the service began to grow in popularity, Dorsey chose the improvement of uptime as top priority, even over creating revenue—which, as of 2008, Twitter was not designed to earn. Dorsey described the commercial use of Twitter and its API as two things that could lead to paid features. His three guiding principles, which he says the company shares, are simplicity, constraint, and craftsmanship.
On October 16, 2008, Williams took over as CEO, while Dorsey became chairman of the board. During his time as chairman, Dorsey joined several State Department delegations, including a trip to Iraq in April 2009, led by Jared Cohen. In November, when Iranians took to the streets in the Green Revolution, Twitter was scheduled to conduct maintenance of its site, which would entail temporarily shutting down Twitter's servers. Dorsey responded to a request from Cohen to delay the maintenance so that it would not affect the revolution in Iran, because Iranians were using Twitter to communicate and coordinate. Since President Obama had announced that there would be no meddling in Iran, the move sparked controversy. In February 2010, Dorsey was part of another State Department delegation, this time to Russia. On March 28, 2011, he returned to Twitter as executive chairman after Dick Costolo replaced Williams as CEO. On June 10, 2015, Costolo announced his resignation as CEO, effective July 1, 2015. Dorsey assumed the post of interim CEO upon Costolo's departure. He was named permanent CEO on October 5, 2015.
In May 2016, Dorsey announced that Twitter would not count photos and links in the 140-character limit to free up more space for text. This was an attempt to entice new users, since the number of tweets per day had dropped from about 500 million in September 2013 and its peak of 661 million in August 2014 to about 300 million in January 2016.
On November 22, 2016, Dorsey was briefly suspended from his own Twitter account with 3.9 million followers. After restoring the account, Dorsey tweeted that the suspension was due to an "internal mistake".
In February 2017, Dorsey and Executive Chairman Omid Kordestani matched a $530,000 donation to the American Civil Liberties Union (ACLU) raised by Twitter staffers. Their match brought the total donation to $1.59 million.
In March 2018, Dorsey announced that an improved version of the verification system would be coming to Twitter. The purpose of redesigning verification was to let people verify more facts about themselves, emphasizing proof of identity. The overhaul was not in place before the U.S midterm election of 2018 to help in verifying the identities of the candidates.
In September 2018, Dorsey testified before the Senate Intelligence Committee alongside Facebook COO Sheryl Sandberg about meddling in the 2016 presidential election. Following this testimony, Twitter shares fell six percent.
Dorsey met privately with U.S. President Donald Trump at the White House and discussed Trump's concerns that Twitter had limited or removed some of his Twitter followers, and those of conservatives. After the meeting, Dorsey tweeted that their discussion included making Twitter "healthier and more civil". A week earlier, Dorsey took part in a TED talk about the social media platform's spread of abuse and misinformation, which has brought him criticism.
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