Twitter CEO Jack Dorsey cut a seven-figure check to an organization founded by former presidential candidate Andrew Yang to help fund microgrants to those out of a job during the coronavirus pandemic.
During his presidential bid, Yang ran on a platform of a universal basic income to all citizens of $1,000. The tech entrepreneur’s campaign fizzled, but calls for a universal basic income grew as the health crisis forced many people out of work, leading Yang to start a group called Humanity Forward to experiment with the concept by giving small grants to people in need.
Dorsey recently joined Yang on his podcast, during which he announced that he would be giving Humanity Forward $5 million to distribute in grants of $250 to those in need. The funding will support nearly 20,000 people who are out of work because of the virus. Yang’s group has already given away $2 million. Yang said the funding will help build the case for universal basic income.
“Not only will Jack’s donation directly impact tens of thousands of people in need during the current economic downturn, it will help Humanity Forward and our movement continue to make a case for universal basic income in the United States,” Yang said in a statement to Rolling Stone. “We know UBI for every American is possible, and this $5 million from Start Small is going to help demonstrate what is possible for families across the country.”
Dorsey has been a supporter of universal basic income, calling the policy “long overdue.” He said he supports the mission of Humanity Forward because “the only way we can change policy is by experimenting and showing case studies of why this works.” The CEO called it a “tragedy” that most of the $2.2 trillion CARES Act did not go directly into the hands of citizens, though the package did include $1,200 payments to most citizens and a $600 boost to state-issued unemployment checks.
Since the pandemic hit, several politicians, including Yang’s former competitor Vermont Sen. Bernie Sanders, have floated a universal basic income of $2,000 to help those out of work and to stimulate the economy.
Dorsey has taken many COVID-19 virus precautions in his own company, including the recent announcement that Twitter employees can work from home permanently because of the virus. Dorsey’s $5 million donation to Humanity Forward is part of his pledge to give away $1 billion of his personal wealth.
