Jack Dorsey, the visionary behind Twitter and Square, remains firmly situated among the world’s billionaires, maintaining his substantial fortune. Jack Dorsey’s net worth today is estimated at over $4.5 billion.
The former Twitter CEO and the current Block owner is one of the most valued developers in the world. While a significant portion of his net worth comes from the sale of Twitter shares and his ownership of Block, a large portion of his wealth was made through investments in cryptocurrency and real estate.
To discover the specifics of Jack Dorsey’s wealth progression throughout the years, keep on reading.
Jack Dorsey’s Net Worth Breakdown:
The details of Jack Dorsey’s net worth aren’t exactly publicly disclosed. He has revealed bits of data here and there, but detailed finances are not widely available. Moreover, the value of his stake in companies like Block and Twitter varies with time. We took all of the public information about his wealth and used it to form an estimate of his total net worth. Here’s the breakdown.
|Asset or Source of Income
|Contribution to Net Worth
|Stake in Block (prev. Square)
|Stake in Twitter
|Sale of Twitter Shares
|Speaking & consulting engagements
|$100k-$1 million per event
|Real estate holdings
|Stake in Bluesky
|Board of Directors salaries
|Bitcoin & crypto investments
|Total Net Worth
Jack Dorsey Net Worth: Starting With a Bang
Jack Dorsey was born on November 19, 1976, in St. Louis, Missouri and he studied at Bishop Dubourg High School in his hometown.
Fascinated by technologies, at the age of 15, Dorsey wrote dispatch software for taxi drivers to use to easily communicate where they are and what’s happening around them. In 1995, Jack enrolled at the University of Missouri-Rolla, but he only stayed there for two years.
In addition to developing software, Jack Dorsey dabbled in the world of hacking. When he was 17, he hacked into the largest taxi dispatch company’s website in New York. He then emailed the CEO of the company, sharing information about the website’s vulnerabilities. The CEO instantly offered him a job at the taxi dispatch company.
In 1997, he moved to NYC to work at the company and enrolled in New York University. However, he would drop out of school with only a single semester away from graduating, and never attained his degree.
Dorsey actually came up with the idea for Twitter while studying at NYU, even though it would be years before he turned it into reality.
Jack Dorsey Net Worth: How the Twitter Founder Earned His Billions
Jack Dorsey’s success started early in life, but it wasn’t without failures. He had several failed attempts before building Twitter and with it, his fortune. Let’s take a closer look at his journey.
Jack Dorsey before Twitter
Dorsey and his boss from the dispatch company partnered up to move to San Francisco to form an internet-centered business, though that venture quickly failed.
Not long after, Jack started working with Odeo, the podcasting company owned by Evan Williams, the founder of Blogger. The serial entrepreneur would also create yet another incredibly successful blogging company, Medium, later on.
In 2006, Evan Williams, Biz Stone, Noah Glass, and Dorsey, had a brainstorming session to find new product features for Odeo. One of the ideas in the session was for microblogging. Dorsey actually tackled his idea while still at NYU by testing it on Blackberry phones.
The group liked his idea and soon enough, they started working on project Twttr, the spark that would eventually turn into Twitter.
The Story of Twitter
Dorsey envisioned a social media platform where users can share messages with followers via small SMS. This particular idea marked the beginning of his journey toward becoming a billionaire.
Instead of incorporating Project Twttr into Odeo, Williams decided to launch it as a separate company. He returned several million dollars of funding to the Odeo investors and opened the company by himself.
This turned out to be one of the smartest ventures in his life, considering that Twitter grew into a multi-billion-dollar business that has garnered over 350 million users since.
When the social media platform was first launched, many people criticized it. In the early days of Twitter, the platform suffered from constant service outages.
It wasn’t long before Dorsey’s creation started a microblogging movement. Many celebrities, including US Presidential candidates of that time, Barrack Obama and John McCain, used Twitter to update their supporters while they were on the campaign trail.
Dorsey didn’t profit much from the venture for quite a while and, in 2018, he only earned an annual salary of $1.40 (no that isn’t a typo). Much of the proceeds he would make off of his work on Twitter would come when he sold the majority of his shares to Elon Musk in April 2022.
Elon Musk agreed to buy the majority of shares at $54.20 per share, much more than the company was worth. Dorsey’s cut amounted to just under $1 billion for him alone at about $978 million. However, the platform has had its challenges in the years after the purchase, and Evan Williams recently commented about “the risk of it turning into the next Yahoo! And Myspace.”
Today, Jack Dorsey owns 18,042,428 Twitter shares, which equals approximately 2.4% of the total number of shares (~767 million).
Image courtesy of BusinessTodayWhen Dorsey parted ways with his creation, he was able to focus his time and resources on other projects, especially Square, his other remarkably profitable company.
Square Rockets Jack Dorsey’s Net Worth Into 11 Figures
The sale of Dorsey’s Twitter shares certainly makes up a significant portion of his net worth but that isn’t the only large contribution. Much of his wealth is tied to his other pride and joy, Square.
While he was still the CEO of Twitter, Jack became an investor in Foursquare, the social networking company that invented the popular social ‘check-in’ system. In 2009, he and his friend Jim McKelvey had the idea to found Square, a mobile payments company that helped businesses of all kinds easily accept credit card payments.
In July 2012, Dorsey joined the ranks of the richest people in the world. A venture capital investment valued his Square business at $3.2 billion.
Square went public in 2015, two years after Twitter. Dorsey remained the CEO of both companies simultaneously for six years.
On the first day of trading, the company had a $3 billion market cap. The company was still tremendously valuable but it was a bit of a disappointment because the last private funding round valued the company at $6 billion.
Square grew steadily over the next few years as it continued to prove itself as one of the easiest and most reliable payment providers on the market. Shortly after the initial COVID-19 pandemic-induced stock crash, Square saw a tremendous recovery that quickly brought it to a new all-time high. It benefited from the 2020-2021 stock market bull run more than almost any other company.
By 2021, Square’s market cap had reached $100 billion, setting Jack Dorsey’s net worth at $16 billion – $15 billion of which came from Square.
The company was renamed Block Inc. and today, the founder and tech billionaire owns around 43 million shares and remains the CEO.
Through Square, Dorsey launched various initiatives, the most popular being Square Crypto. He formed an independent team that is solely focused on contributing to the Lightning Layer 2 Network and Bitcoin open-source work.
Jack Dorsey’s Net Worth Takes a Dive
In a single day, Dorsey lost $526 million because of allegations of fraud at Block. Hindenburg Research, an infamous short selling activist firm, released a report that detailed alleged fraud at the company. It claimed that the fraud helped Dorsey and his co-founder make billions of dollars. According to Hindenburg, Block inflated user counts to mislead investors, among other predatory practices.
Block denied these allegations and stated the following:
“We intend to work with the SEC and explore legal action against Hindenburg Research for the factually inaccurate and misleading report they shared about our Cash App business today.”
Even so, the report was enough to cause the Block stock to fall by 22%, causing the founders to lose millions.
It’s absolutely vital to note that Hindenburg Research had a tremendous financial motive in this case. Its general strategy is to try to find misdoings of various kinds or signs of a nearing collapse in a company, set up a gargantuan short on the company’s stock (so that it profits when the stock drops), and then release a scathing report to push investors to sell.
So far these allegations haven’t been considered in a court of law and Block is still a popular payment service worth over $30 billion.
Bluesky: The Twitter Spin-Off
Jack Dorsey took on yet another massive job when he co-founded a new social media platform in parallel with Twitter, named Bluesky Social.
Bluesky launched in February 2023 and in September 2023, it hit one million users after Twitter users unhappy with Elon Musk’s changes to the platform started to look for alternatives.
The platform has customizable feed organization options and allows users to share updates in the form of photos or text. Bluesky claims to address some of the biggest issues Twitter had, particularly regarding content discovery and algorithms.
Basically, the platform aims to give its users more freedom to choose the content they see and experiment with diverse recommendation engines.
The project is a separate venture from Twitter, but it received $13 million in funding from the company before it became independent. It operates without ads and subscriptions and is supported by the initial Twitter financing.
Dorsey in Boards of Directors
Because of Dorsey’s storied career in business and management, he has been asked to join a variety of boards of directors. In 2013, Dorsey joined the board of directors at Walt Disney. He’s also receiving compensation for this role at Block, Bluesky, and Berggruen Institute’s Governance Center.
Jack Dorsey also likes to talk at speaking engagements and makes a pretty penny on each one. You can now hire the former CEO of Twitter to speak at an event (as long as you have a small fortune to spend). His fees range from $100,000 to $1,000,000 per appearance.
Dorsey is well-known for his philanthropy. He has funded many public school projects, committed a portion of his Square equity, and donated to causes like #TeamTrees to help the environment.
He also donated to coronavirus relief programs through Start Small, LLC, his grantmaking fund.
In April 2020, Dorsey announced that he was moving a billion dollars worth of Block shares into Start Small. The 60 million shares at the company were worth $3.6 billion at the time, and he moved $1 billion worth of those shares to donate for women’s health, education, and COVID-19 relief.
In January 2022, Dorsey joined forces with Rihanna to donate $15 million toward climate change. His Start Small fund and Rihanna’s CLF collaborated several times in the past.
Jack Dorsey’s Other Assets
Some of the standout components of Dorsey’s portfolio include cryptocurrencies and real estate holdings.
Jack Dorsey is perhaps best known for his support of Bitcoin and digital currencies if you exclude his involvement with Twitter. While Jack Dorsey hasn’t publicly disclosed the amount of Bitcoin in his investment portfolio, he was no doubt a huge fan of the invention and was an early investor. His companies have invested quite a lot in Bitcoin. For example, Square bought $50 million worth of the currency back in 2020.
There is a good chance that his Bitcoin holdings make up a significant portion of his net worth because he was interested in the tech so early but he hasn’t revealed the size of his investments.
Also known as a Bitcoin maximalist, Dorsey is a very public supporter of cryptocurrencies. He even supported the development of Bitkey, a cryptocurrency wallet that recently launched in a Beta version.
bitkey beta opening globally https://t.co/9sswRVlQoY
— jack (@jack) June 15, 2023
He also joined forces with Jay Z and launched the Bitcoin Academy to help Brooklyn residents learn about cryptocurrency and personal finances in general.
In addition to his business ventures and Bitcoin investments, Jack also owns quite a bit of real estate.
In 2018, he bought a Hollywood Hills mansion for $4.22 million. He sold this property a year later for roughly $4.5 million.
Jack Dorsey owns a home in San Francisco that he bought in 2012 for $10 million. In 2017, he bought the house next to this property for $21.9 million.
What Can We Learn From Jack Dorsey’s Success?
The journey of Jack Dorsey’s rise to billionaire status is truly remarkable. His dedication to innovation and knowledge of technology led him to create two major tech innovations, shaping the landscape of digital payments and social media. He shows us how important the power of transformative ideas is in the competitive markets of today.
The story of Dorsey is a testament to the importance of daring to pursue your visions and ideas, even when others are skeptical of them.