Jack Dorsey is an American entrepreneur, CEO, philanthropist and programmer. He is known for being the former CEO of Twitter, Inc. (currently known as X), and CEO of Square (currently known as Block).
Wiki/Biography
Jack Patrick Dorsey was born on Friday, 19 November 1976 (age 46 years; as of 2023) in St. Louis, Missouri, United States of America. Dorsey went to Bishop DuBourg High School and used to model during his childhood. In 1995, Dorsey began his studies at the Missouri University of Science and Technology in Rolla, Missouri, attending for over two years. He later transferred to New York University in 1997, but ultimately left the university two years later, with just a semester left to finish his degree. While studying at New York University, he came up with the idea that would one day become Twitter. Jack Dorsey is also a certified masseuse and got his license in 2002.
A young Jack Dorsey
Physical Appearance
Height (approx.): 5’10”
Weight (approx.): 75 kg
Hair Colour: Dark Brown
Eye Colour: Blue
Family
Jack Dorsey was born and raised in a Catholic family.
Parents & Siblings
His father, Tim Dorsey was working in a company that developed mass spectrometers. Jack’s mother Marcia Dorsey, who is of Italian descent, is a homemaker. Jack Dorsey has two brothers named Andrew and Daniel.
Jack Dorsey’s parents Marcia Dorsey and Tim Dorsey
Jack Dorsey with his brothers
Relationships/Affairs
Jack Dorsey has been seen with several women, mostly models and actresses. He was reported to have been dating Nicole Lapin, a TV news anchor, and author, Raven Lyn Corneil, a Sports Illustrated model, Lily Cole, a British model and actress, Sofiane Sylve, a ballet dancer, Kate Greer, an artist, and Flora Carter who is a swimsuit model.
Jack Dorsey with Kate Greer
Jack Dorsey with Flora Carter
Signature/Autograph
Jack Dorsey’s signature
Jack Dorsey’s formal signature
Career
Jack Dorsey, a prominent figure in the tech world, gained recognition as one of Twitter’s co-founders, where he played a pivotal role in its formation and subsequent development. Dorsey’s association with Twitter began in 2006, and he contributed significantly to its foundational design and structure, notably crafting the real-time feed and introducing the iconic 140-character limit for tweets. Nevertheless, his journey encountered setbacks, resulting in his removal as CEO in 2008 due to concerns about his leadership approach and the company’s strategic direction. This departure led to a period of diminished involvement with the company. In 2011, Dorsey made a comeback to Twitter, actively assuming the position of Executive Chairman. This marked the beginning of his endeavours to redefine and expand the platform’s capabilities. Under his guidance, Twitter introduced innovative features, enhanced user experiences, and explored avenues for business growth, to make Twitter more flexible and adaptable to evolving user needs and industry dynamics. Dorsey once again assumed the role of CEO at Twitter in 2015, focusing his leadership approach on fostering innovation, diversification, and deeper engagement. While Dorsey’s impact on Twitter’s growth and history is undeniably significant, his time as CEO has encountered challenges and controversies. The dynamic nature of the platform, its influence on public discourse, and issues related to misinformation and user safety have all posed hurdles to his leadership. Concurrently, Dorsey’s involvement extended to his role as CEO of Square, a major financial technology company founded in 2009. Dorsey’s leadership has not been without critique and difficulties. His engagement in other ventures and philanthropic pursuits, combined with his leadership style, has gathered diverse responses. From his brief suspension from his own Twitter account to his testimony before the Senate Intelligence Committee on meddling in the 2016 presidential elections (USA), Dorsey’s journey has been marked by both achievements and obstacles. In 2021, Dorsey announced his departure from the role of Twitter’s CEO, passing the torch to Parag Agrawal while continuing as the CEO of Block, Inc.
Jack Dorsey, former CEO of Twitter
Square Inc. (Now known as Block Inc.)
Aside from his role with Twitter, Dorsey also serves as the CEO of Square, now known as Block. In collaboration with co-founder Jim McKelvey, he developed Square, a platform enabling small businesses to accept debit and credit card payments via mobile devices. Established in 2009, Square is a financial services and digital payment company that specializes in providing tools for managing payments, transactions, and financial activities for both businesses and individuals. One of its key offerings is the Square Reader, a compact device that attaches to smartphones or tablets, enabling businesses to accept credit card payments. Over time, Square has expanded its portfolio. Dorsey’s vision revolves around streamlining financial processes and making them accessible to more individuals and enterprises. Launched in May 2010, the device attaches to smartphones and tablets via the headphone jack, facilitating card swiping, transaction amount selection, and signature confirmation. The company’s growth has been remarkable, expanding from 10 employees in December 2009 to over 100 by June 2011, with its headquarters located on Market Street in San Francisco. By September 2012, Square Inc. was valued at US$3.2 billion by Business Insider magazine. Dorsey’s leadership as CEO was notable as Square filed for an IPO (Initial Public Offering) on October 14, 2015, eventually going public on the New York Stock Exchange. Dorsey owned approximately 24.4% of the company at that time. In a significant move, the FDIC (Federal Deposit Insurance Corporation) granted Square permission to establish a bank in March 2020, with plans to launch Square Financial Services in 2021. Additionally, in May 2020, Dorsey announced that Square’s employees would transition to permanent remote work. Nevertheless, in 2020, Square faced criticism for withholding up to 30% of funds collected from customers via its Cash App for several months. On December 1, 2021, Dorsey officially renamed the platform Block, Inc., aligning with his interest in blockchain technology. The stock ticker for Block, Inc. remains “SQ.”
Jack Dorsey with the team of Square Inc.
Other Projects
Dorsey is a co-founder of Bluesky Social, a Twitter spin-off dedicated to crafting a decentralized social networking protocol and app. In 2013, he expressed admiration for Michael Bloomberg and his ambition to become New York City’s mayor, even judging Bloomberg’s NYC BigApps contest.
Jack Dorsey with Michael Bloomberg
Joining The Walt Disney Company’s board of directors in 2013, Dorsey opted out of re-election in 2018 due to mounting conflicts of interest. He’s actively involved on the board of the Berggruen Institute’s Governance Center and imparts guidance in Tim Ferriss’ book “Tools of Titans.” With a strong backing for Bitcoin, he’s a vocal advocate and speaker at Bitcoin conferences, and he’s lent endorsement and financial support to the development of the Nostr social networking protocol.
Controversies
Jack Dorsey vs The Indian Government
Jack Dorsey, the former CEO of Twitter, has been in disagreeable situations with the Indian government, raising questions about the dynamic between social media, freedom of expression, and governmental influence over it. Dorsey’s criticisms of the Indian government have sparked controversy on several occasions. Amid the farmers’ protests (2020-21), he alleged that the government pressured Twitter with the threat of shutdowns and raids unless the platform obeyed requests to limit content critical of the government’s handling of the protests. This move to suspend accounts tied to the protests triggered discussions about the role of social media in internal matters and the scope of free speech. Dorsey’s involvement extended beyond the protests, notably when he posed with a sign reading “Smash Brahminical Patriarchy” during a 2018 visit. This act was the cause of several debates due to its perceived validation of anti-Brahmin sentiment and cultural insensitivity.
Jack Dorsey holding the ‘Smash Brahminical Patriarchy’ sign during his 2018 visit to India
Accusations of bias and uneven treatment have been made against Twitter by various groups of people in India. Something that the platform targets specific voices and ideologies disproportionately, while others claim it doesn’t do enough to address hate speech and false information. Twitter’s approach to government demands and content moderation in India has also been a subject of discussion. Concerns have arisen regarding the platform’s adherence to local laws and its response to India’s new IT regulations designed to hold social media platforms accountable. Twitter’s reluctance to fully comply with these regulations, strained its relationship with the Indian government and prompted discussions about content standards and respect for national laws. These instances bring to light the unique challenges faced by tech corporations operating in diverse nations, particularly in scenarios where political tensions intersect with discussions on free expression. Dorsey’s actions and Twitter’s decisions continue to fuel conversations about the obligations of technology companies in shaping public debates while trying to deal with legal frameworks and cultural sensitivities.
The Hindenburg Report
Jack Dorsey, the founder of Twitter, experienced a substantial decline in his net worth exceeding $500 million within a single day due to a report by Hindenburg Research. This report raised concerns about Block (formerly known as Square), a company in which Dorsey holds a significant investment, alleging potential unethical and possibly illegal practices, including alleged misleading of investors and government entities about the company’s financial status. Based on the daily rankings provided by the Bloomberg Index, which tracks the world’s wealthiest individuals, Dorsey’s financial fortunes dropped by $526 million in just one day, resulting in a diminished overall net worth of $4.4 billion. The downturn in Dorsey’s wealth was due to the publication of the Hindenburg Research report, which accused Dorsey’s company, Block, of engaging in fraudulent behaviour towards consumers and the government. The report raised serious questions about Block’s actions, suggesting potential involvement in facilitating fraud, avoiding regulatory measures, and potentially providing investors with misleading metrics. Although the truth of these allegations remains unproven, Block strongly denied them. Despite them denying the allegations, the negative report adversely impacted Block’s stock market valuation, which led to a decrease in Dorsey’s net worth. Since a substantial portion of Dorsey’s wealth is linked to Block, the decline in stock prices impacted his financial standing. Dorsey’s wealth is primarily derived from his stakes in Twitter, Block, and various other investments. He retained a 2.4% stake in Twitter after a notable acquisition by Elon Musk, and he also possesses approximately 10% of Block’s shares, which contributed to the recent decline in his financial worth.
Awards, Honours, Achievements
- Jack Dorsey was selected as one of ‘The Top 35 Innovators globally under the age of 35’ by the MIT Technology Review TR35 in 2008.
- Jack Dorsey was given the “Innovator of the Year Award” for technology by The Wall Street Journal in 2012.
- Dorsey was honoured as ‘Founder of the Year’ at the 5th Annual Crunchies Awards, hosted by TechCrunch, in 2012.
- Forbes named Dorsey as The World’s Most Eligible Bachelor in 2013.
Car Collection
Jack Dorsey owns an E92 BMW M3.
Net Worth
Jack Dorsey is worth $4.4 billion as of 2023, according to Bloomberg Billionaires Index.
Facts/Trivia
- He posted the world’s first tweet on March 22, 2006: “just setting my twttr.”.
just setting up my twttr
— jack (@jack) March 21, 2006
- Jack Dorsey has a big tattoo on his left forearm that signifies a hole on a violin, a collarbone and the integral symbol from calculus.
- Jack Dorsey contributed $ 1 billion to a coronavirus relief fund, which is said to be 28% of his wealth.
- Jack Dorsey stated in an interview that he eats only one meal daily, i.e. dinner because he follows an intermittent diet.
- Jack Dorsey follows an interesting set of physical activities where he tries to meditate for at least two hours a day. Jack does Vipassana, which is an ancient meditation technique. Every once in a while, he also alternated between a sauna and an ice bath. Jack watches his health by using a standing desk, walking to work, and using an exercise bike.
Jack Dorsey meditating with Shah Rukh Khan
- At 15 years old, he developed a rental cab dispatch software that continues to be put into use by numerous taxi services.
- Jack Dorsey stated that he tries to journal every day by making entries on the Notes app of his iPhone.
- Dorsey faced criticism in his career and was ranked as the #4 Worst CEO of 2016 by Fox Business due to stagnant growth, falling stock prices, and his part-time involvement with Twitter. Then in 2017, 24/7 Wall St. included Dorsey in their list of the 20 Worst CEOs in America.
- Dorsey is an extremely philanthropic man, in March 2016, Dorsey funded around 600 public school initiatives in Missouri through DonorsChoose. In October 2019, he contributed $350,000 to #TeamTrees, a nonprofit striving to plant 20 million trees by year-end. On April 7, 2020, he revealed plans to move roughly $1 billion of his Square, Inc. equity to Start Small, LLC, allocating a significant portion to COVID-19 relief, girls’ education and health, and universal basic income. This commitment led to $24 million in donations benefiting more than 40 relief-oriented organizations. In August 2020, he granted $10 million to Boston University’s Center for Antiracist Research. In May 2021, Dorsey donated $15 million towards COVID-19 relief in India, gave $10 million to Care, and $2.5 million each to Aid India and Sewa International.
Categories: Biography
Source: HIS Education