Jack Dorsey just donated $5 million to Andrew Yang's UBI initiative

The St. Louis native started his "Start Small" fund to explore, in part, universal basic income.

Tom Franklin
May 21, 2020 - 9:45 am
Jack Dorsey and Andrew Yang

(Getty Images)

ST. LOUIS (KMOX) — Square and Twitter co-founder Jack Dorsey is backing his support of a universal basic income with big money.

The St. Louis native is donating $5 million to former Presidential candidate Andrew Yang's "Humanity Forward" initiative, whose initial goal is to help Americans hit hard by the pandemic.

"We're going to give $250 dollars to 20,000 Americans," Yang announced on CNN Thursday morning. "We are incredibly grateful to Jack (Dorsey) for this $5 million because it will improve the immediate situation for thousands of Americans."

Related: St. Louisan Jack Dorsey donates $1 billion to COVID-19 relief

Dorsey made the donation through his "Start Small" philanthropic fund...which he invested $1 billion in after the pandemic started. Part of the motivation was to help fight COVID-19, but Dorsey also wanted to use fund to explore the possibility of a universal basic income for Americans. During the Democratic campaign for President, Dorsey supported Yang, who made UBI a big part of his platform.

Dorsey was recently a guest on Yang's RADIO.com podcast "Yang Speaks" today. You can view their conversation here:

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