Jack Dorsey is worth $2.2 billion. (Getty)
Jack Dorsey, the new CEO of Twitter, is a billionaire. He’s made his money from founding and running Twitter and Square, along with a number of other side projects. According to a securities filing, Dorsey will not be taking a salary for his job as CEO of Twitter. He will continue working as the CEO of Square while also running Twitter.
Here’s what you need to know about his net worth.
1. Jack Dorsey Is Worth $2.2 Billion
Dorsey is a self-taught computer programmer who’s now a billionaire. (Getty)
His net worth is currently $2.2 billion, according to Forbes, and it’s all self-made. Most of it comes from Twitter, the company he co-founded and of which he’s now interim CEO. A good portion of his net worth also comes from Square, a digital payments company that he founded in 2009. He’s a self-taught computer programmer who dropped out of New York University in 1999 and made all his money as an entrepreneur.
2. His Main Wealth Came From Twitter’s IPO
Most of Dorsey’s wealth came from Twitter’s IPO. (Getty)
He first became a billionaire in 2012, Business Insider reported. His fortune grew enormously in November 2013 when Twitter had its initial public offering. The stock started at $26 a share, but rose to $45 in its very first day of trading.
3. He Gave Part of His Stock Back to Square
Jack Dorsey wasn’t afraid to give some of his stock back to Square to help the company. (Getty)
Dorsey might be worth even more, but he gave 10 percent of his Square stock back to Square. He wanted to help Square employees have more equity and stock options. The move also helped him acquire Caviar, an online ordering startup, Business Insider reported.
4. He Owns a Multi-Million-Dollar Home in California
Jack Dorsey traded his million-dollar apartment for an $9 million home. (Getty)
He owns a $9.9 million seaside home in an exclusive San Francisco neighborhood, according to Business Insider. The house is on El Camino Del Mar, a Seacliff neighborhood, and has a stunning view of the Golden Gate Bridge. Even though the house is just two bedrooms, he bought it for nearly $10 million and it’s reportedly worth at least $18 million. He had a Mint Plaza apartment just blocks from Square and Twitter, but sold it for $1 million in 2012.
5. He Was Named Innovator of the Year in 2012
As an innovator always coming up with new ideas, his net worth is likely to keep growing. (Getty)
In 2012, The Wall Street Journal named Dorsey “Innovator of the Year,” Celebrity Net Worth reported. In 2008, he was named one of the top 35 innovators in the world under 35, by MIT Technology Review. He’s also on the board of directors for Walt Disney.
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What Is Jack Dorsey’s Net Worth? 5 Fast Facts You Need to Know