In Square’s S-1 filing for its Initial Public Offering, Chief Executive Jack Dorsey revealed that he has committed a considerable percentage of his equity to help further the company’s potential to “drive positive impact” over the course of his lifetime. Over the past two years, he has given up 15 million shares, or 20 percent of his equity, back to Square and he has committed to giving an additional 10 percent in the future.
As the majority shareholder in Square, Dorsey has a bit of equity to give. He has over 71 million shares, or 24.4 percent of all shares.
The equity is being routed to Start Small Foundation, a new organization created by Dorsey that’ll invest in artists, musicians, local businesses, aimed at those underserved communities around the world. All his donated shares are up for grabs and sold by his organization, which will give Square customers the ability to buy into Start Small’s program and support Dorsey’s efforts.
The hope is that by investing in people and giving them a chance to make it big, they’ll be able to pay it forward to others. “I’d rather have a smaller part of something big than a bigger part of something small,” says Dorsey.
Much of Square’s marketing appears to be all around supporting the small business and giving underserved and underdog a chance at competing with the rest of the world. And with this charitable organization, Dorsey wants to further that goal.
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