Jack Dorsey’s Wealth Tumbles $526 Million After Hindenburg Short
- Block co-founder’s net worth drops by the most since May
- Block plans to explore legal action against the short-seller
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Block Inc. co-founder Jack Dorsey’s net worth was hammered after Hindenburg Research’s latest report, which alleged the payments company ignored widespread fraud.
Dorsey’s fortune plunged by $526 million on Thursday, his worst single-day decline since May. He’s now worth $4.4 billion after the 11% drop, according to the Bloomberg Billionaires Index.