Bloomberg Billionaires Index

View profiles for each of the world’s 500 richest people, see the biggest movers, and compare fortunes or track returns.

#358 Jack Dorsey $5.18B

Random fact: Owns about 16 percent of Square.

Overview

Dorsey is co-founder and chief executive officer of Twitter, the company behind the social media service on which users post tweets. The San Francisco-based business has more than 300 million monthly users and reported revenue of $2.4 billion in 2017. Dorsey is also CEO of Square, a mobile-payment company.

As of June 24, 2018:
Last change -$73.8M (-1.4%)
YTD change +$2.36B (+83.7%)
Industry Technology
Biggest asset SQ US Equity
Citizenship United States
Age 36
Wealth Self-made
View net worth over:   Max 1 year 1 quarter 1 month 1 week

Relative Value

Jack Dorsey's net worth of $5.18B can buy ...

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troy ounces of gold
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barrels of crude oil

... and is equivalent to ...

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of the GDP of the United States
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of the total wealth of the 500 richest people in the world
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of the top 100 U.S. college endowments
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of the top 200 U.S. executives’ total awarded compensation
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of U.S. existing home sales
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times the median U.S. household income

Latest News

Net Worth Summary

Cash
Private asset
Public asset
Misc. liabilities
Confidence rating:

Dorsey's fortune is derived from his holdings in Square and Twitter, the social media company that has 330 million monthly users, according to a May 30, 2018 presentation. Dorsey owns about 16 percent of Square, according to the company's 2018 proxy filing. He's committed to giving away about half of that stake to Start Small Foundation, his charity, according to the company's 2015 prospectus.

Dorsey owns 2 percent of San Francisco-based Twitter, according to the company's 2018 proxy. He also owns 2 million options. He gave $100 million of his Twitter stock to the staff equity pool on May 27, 2016.

In August 2011, Dorsey and two other Twitter shareholders sold 22.6 million shares to three investment banks for $15.93 a share, according to the prospectus. Dorsey is credited with one third of this amount.

The value of his cash holdings is based on an analysis of share sales, dividends, market performance, taxes and charitable contributions.

Dorsey is a board member of Walt Disney Co. and his holdings are disclosed publicly.

Biography

Birthdate: 11/19/1976
Family: Unmarried, No children
Education: 1998, Missouri University of Science and Technology New York University University of California Berkeley

Jack Dorsey developed a fascination with maps and cities when he was growing up in his hometown of St. Louis. He taught himself programming to build computer-based maps of New York City emergency vehicles that he gleaned from public dispatch data.

When he was 17, he hacked the website of the world's largest dispatch company, in Manhattan, e-mailed the chairman to alert him to the security weakness and offered his services as a dispatch software maker. He got the job offer he wanted and enrolled at New York University. "Suddenly I was working, doing mapping software for these massive call centers in Manhattan, doing everything I had dreamed of," Dorsey said on Bloomberg Television's "Beyond the Boardroom" in 2010.

In the late 1990s, Dorsey and the chief executive of the dispatch company decided to form an Internet-focused company in San Francisco. While that venture floundered, Dorsey applied to work at Evan Williams's podcasting company, Odeo. In 2006, Dorsey and Williams, along with Biz Stone, formed Twitter, a microblogging service based on a BlackBerry e-mailing program he had written in 2000. Dorsey was pushed out as Twitter CEO by Williams in 2008 and left to form mobile payments company Square, which is centered around enabling mobile phones to accept credit card payments. He returned in 2010 and now serves as CEO of both Square and Twitter.

Dorsey joined the ranks of the world's billionaires in July 2012, after a venture capital investment valued Square at $3.2 billion. Twitter sold shares in an initial public offering in November 2013. Two years later Square was listed in New York.

Dorsey lives in San Francisco. A 2011 profile of Dorsey in Vanity Fair noted he has an affinity for Prada suits, Rolex and other high-quality items because he expects to keep them for life.

Milestones
  • 1976 Jack Dorsey is born in St. Louis.
  • 2000 Writes a program for BlackBerries that later forms the basis of Twitter.
  • 2006 Twitter is created. Dorsey sends first "tweet" in March.
  • 2008 Rejects Facebook offer to buy Twitter and steps down as CEO.
  • 2009 Co-founds mobile phone-payments service Square.
  • 2013 Twitter sells shares in an initial public offering.
  • 2015 Named Twitter CEO.
  • 2015 Square shares rise 45 percent on first day of trading.