Categories: Info Tech

Twitter’s Dorsey Donates $3 Mn To Test Universal Basic Income

(FILES) In this file photo illustration, a Twitter logo is displayed on a mobile phone on May 27, 2020, in Arlington, Virginia.  (Photo by Olivier DOULIERY / AFP)



Twitter chief executive Jack Dorsey has said he will donate $3 million to a group of  US mayors to experiment with the creation of universal basic income.

The sum will go to the group Mayors for a Guaranteed Income (MGI), a coalition of leaders from 16 cities who are in favor of universal basic income — regular payments to residents generally meant to fight poverty and meet citizens’ basic needs.

“This is one tool to close the wealth and income gap, level systemic race and gender inequalities, and create economic security for families,” Dorsey, whose fortune is estimated at $7.3 billion by Forbes magazine, tweeted Thursday.

MGI responded that “the entire network is so appreciative of this support. Together, we can make the American economy work for everyone.”

The group includes mayors from a geographically diverse array of US cities such as Atlanta, Seattle and Los Angeles.

Dorsey already announced in April that he would commit $1 billion of his personal fortune to coronavirus relief through his philanthropic fund.

Once the pandemic ends, he said, the fund would focus on health and education for girls and “universal basic income” efforts.

Universal basic income, a controversial topic in US politics, has been lambasted by many as too costly or too “socialist.”

However, former Democratic presidential candidate Andrew Yang argued for it on the campaign trail, proposing to provide every American age 18 and older with $1,000 a month.

Since Yang’s departure from the race, the virus crisis has created a spike in unemployment, with 18 million people on the jobless rolls through the week ended June 27.

The US could suffer a second wave of layoffs as more states see spiking case counts, and once expanded jobless benefits expire.




Nebianet Usaini

Disqus Comments Loading...
Published by
Nebianet Usaini
Tags: twitter Twitter CEO

Recent Posts

  • Info Tech

Musk Says Tesla Close To Developing Fully Autonomous Car

  Tesla founder Elon Musk said Thursday that the world's recently crowned most valuable auto company could achieve a fully autonomous car by…

1 min ago
  • Crime Watch

Father Allegedly Impregnates 16-Year-Old Daughter In Yobe

  The Yobe State Command of the Nigeria Police Force has paraded a 43-year-old man and a father of eight…

17 mins ago
  • Coronavirus

Lagos Discharges 50 More COVID-19 Patients

    The Lagos State Government has discharged 50 more COVID-19 patients in the state. Governor Babajide Sanwo-Olu disclosed this…

27 mins ago
  • Coronavirus

Lagos Govt Shuts Down Illegal COVID-19 Lab In Banana Island

  The Lagos State Ministry of Health on Saturday said it had shut down the operations of a private laboratory…

41 mins ago
  • World News

COVID-19: Emirates Airline To Cut Up To 9,000 Jobs

  Emirates Airlines has cut a tenth of its workforce during the novel coronavirus pandemic in layoffs that could rise…

59 mins ago
  • Sports

Manchester City To Learn UEFA Appeal Fate On Monday

  Manchester City will discover the result of their appeal against a two-year ban from UEFA competitions on Monday, the Court of…

1 hour ago