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Jack Dorsey's Net Worth After Twitter Farewell

Twitter's departing CEO has maintained a detached view of his wealth and has donated a lot of it.

Twitter  (TWTR) - Get Twitter, Inc. Report Co-Founder and Chief Executive Jack Dorsey, 45, who on Monday bid farewell to Twitter is the world's 174th richest person, with a net worth of $12.3 billion, according to the Bloomberg Billionaires Index.

Dorsey's net worth is less than a twentieth of the richest man in the world, Elon Musk, whose wealth is mostly in EV giant Tesla TSLA. Musk's total net worth is $296 billion according to Bloomberg. But that was never the path that Dorsey was chasing.

Dorsey, who is also the Chief Executive of digital payments company Square  (SQ) - Get Block Inc Class A Report, has maintained a detached view of his wealth and is in fact know for leading a minimalistic lifestyle packed with vegan food, intermittent fasting, quirky diets that include eating just one meal a day, taking ice baths and a disciplined meditation routine.

"I don't really think about the money aspects of it, probably because all of my value is really tied up in these two companies," Dorsey told Rich Kleiman the host of "The Boardroom: Out of Office" podcast last year. "I have to sell shares in order to get access to any of that," said Dorsey as reported by Business Insider.

Dorsey was referring to Twitter and Square which have a market cap of roughly $36.59 billion and $98.16 billion respectively.

In April 2020, he promised to give away $1 billion - then 28% of his net worth - to Covid-19 relief and other causes, via gifts of his 20 million shares of Square stock.

In May 2016, he donated one third of his Twitter shares to his employees in a bid to attract and retain talent. He also tweeted, "I'd rather have a smaller part of something big than a bigger part of something small."

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As a business leader Dorsey has shown a penchant for leading democratic decision making processes at Twitter. 

He's also faced controversy. Under his leadership Twitter decided to ban then president Donald Trump.

In congressional hearings, Dorsey has said in the past that he wants to make Twitter’s content moderation practices more transparent in a bid to allay users’ growing lack of trust on the social media platform.

Dorsey is also an avid Bitcoin enthusiast. 

“If I were not at Square or Twitter, I’d be working on bitcoin,” Dorsey told a crowd at Bitcoin 2021, a mega conference that drew tens of thousands to Miami in June, as reported by CNBC.

As a parting wish he hopes that Twitter "becomes the most transparent company in the world."

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