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Updated title on original source: "Jack Dorsey is giving up at least 50% of his stake in Square to help underserved communities" Update: This post has been upd

by stpe 11y ago

Updated title on original source: "Jack Dorsey is giving up at least 50% of his stake in Square to help underserved communities" Update: This post has been updated to correct that Dorsey will commit 10 percent of the entire company, not just his equity as previously stated. In addition, our calculations were off and I regret the error. This is commendable. Actually intending to making the world a better place (in the non HBO-Silicon-Valley-Show-way).

rco8786 11y ago
Jack owns ~24% of the company. It is just his equity.
- flintchip 11y ago
  Yes, but 10% of 100% is a lot more than 10% of 24%.
  - rco8786 11y ago
    It was reported that he would be giving up 30-50%(now at least 50% apparently) of his own stake. Which comes out around 10% of the entire company, depending on what number is actually correct.