Twitter CEO Jack Dorsey Bio: All You Need To Know

 

Jack Dorsey, the co-founder, and CEO of Twitter and Square Inc. is one of the world’s renowned technological entrepreneurs owning one of the world’s most prominent tech companies.

Though his innovative spirit accounts for a significant percentage of his success, his efforts to ensure society’s welfare have also paid him both in cash and in-kind.

In 2016, Dorsey sacrificed almost one-third of his Twitter shares to his company employees. This is not to mention the Covid 19 grant, which took 28% of his total wealth, Forbes.

Read through Jack Dorsey’s biography below to learn more about his inspiring story of success.

Jack Dorsey Bio Facts

Full Name: Jack Patrick Dorsey

Birth Date: 19, 1976

Birth Place: St. Louis, Missouri, U.S.

Nick Name: Jackie No Edits

Nationality: American

Siblings: Jack has two brothers, Andrew and Daniel Dorsey but has no sisters.

Children: Dorsey has no children. He considers Twitter and Square Inc., as his children, the Newyork Times.

Partner/Spouse: Single

Profession: Programmer, Internet Entrepreneur

Salary: Before 2019, Dorsey received zero salaries from his two companies. In 2019 he received $1.40 from Twitter and $ 3 from square Inc., with zero bonus in both companies.

Net Worth: $12.1 billion, Forbes.

Social Media: Twitter, @jack

Companies Associated With: Square, Twitter

Last Updated: June 2021.

Jack Dorsey Key Facts Summary

  • Dorsey is a college dropout.
  • He aspired to be a fashion designer.
  • Jack ranks among the world’s top 100 wealthiest men.
  • The young billionaire does not have an office in Square Inc.
  • Dorsey intends to try his hand in politics in the future.
  • The ever-chattering police scanners inspired the idea behind Twitter.
  • Dorsey is addicted to Twitter – he routinely checks the latest happenings through Twitter every other single morning.
  • Dorsey used his expertise in technology to secure his first job – compromised the company’s website, advised them how to repair it, and that got him hired.
  • Jim McCelvey was once his boss – he would later partner with McCelvey to create square Inc.

Jack Dorsey Birthplace and Early Life

Jack Dorsey

Jack Dorsey was born on November 9th, 1976, in St. Louis, Missouri, where he was brought up. Thanks to his parents, Marcia Dorsey and Tim Dorsey, who nurtured this great mind. He is of English, Italian and Irish descent.

Being a catholic, Dorsey joined Bishop DuBourg School for his high school studies. While still at high school, he would occasionally design fashion models, a hobby that he would have turned into his career if things did not work with his technological endeavors.

However, his interest in the technological world took the biggest portion of his heart. And, at the age of 14, Dorsey was already trying to revolutionize dispatch routing. He took part in a technological challenge to facilitate real-time communication coordinate delivery vans, taxi drivers, and other vehicle fleets to enhance their working efficiency.

His efforts in dispatch routing earned him a great reputation when he successfully created dispatch routing software at age 15. Today, some taxicab companies still use dispatch logistics software to enhance their operations.

After completing high school, Dorsey joined the University of Missouri-Rolla in 1995. He studied at the university for two years before transferring to New York University in 1997. Dorsey stayed at New York University for another two years, after which he dropped one semester before graduation.

Immediately after leaving the college, he hacked his way to working with one of the reputable dispatching companies in New York. While working for the dispatching company, Dorsey relocated to California, where he started his dispatching company in Oaklands.

His main objective behind the company was to dispatch taxis, couriers, and other emergency services. However, reports also show that he also had interests in streamlining some technological hitches in the medical sector.

While executing his duty, Dorsey got too obsessed by the way the police scanners worked, “They’re always talking about where they’re going, what they’re doing and where they currently are, and that is where the idea for Twitter came,” Dorsey, “60 Minutes“.

He thought how efficient his company would be if he came up with a site that merged the dispatch logistic technology with instant messaging. He later collaborated with other great minds (discussed) and gave birth to the social platform we call Twitter today.

To give you a clearer view of how Twitter came into life, let’s take a closer look at Dorsey’s career.

Jack Dorsey’s Career life

Jack Dorsey is known as a programmer and internet entrepreneur (here are a few business strategy frameworks he uses). His notable achievement that led to his popularity is cofounding the Twitter platform and square Inc. as discussed below.

The Creation of Twitter Account

As stated above, Dorsey developed the idea of creating a site that would combine dispatch technology with instant messaging. He consulted about the idea with Biz Stone, a former executive of Odeo, and Evan Williams, an Odeo company’s cofounder.

The three came up with a new company known as Obvious. The reason behind that move was to create an avenue for people to share their statuses efficiently to update their friends on their current activity.

Two weeks later, Dorsey came up with a simple site to send short messages (tweets) not exceeding 140 characters. The platform later developed into twitter. Dorsey became the new Twitter CEO and later the chairman in 2008.

Jack Dorsey’s Early Business Success (The Success of Twitter)

Immediately after its launch, the site had frequent service outages. Some critics like Conan O’Brien thought the site was just for the ‘low class.’

However, people stopped deriding the platform when some top politicians in the United States like Barack Obama and John McCain used the platform to provide their supporters with live updates about their political campaigns.

The popularity of Twitter grew even more in June 2009 when thousands of Iranian opposition supporters filled the streets to protest against the victory of Mahmoud Ahmadinejad. Upon the closure of the text messaging and satellite feeds of foreign news coverage, the protestors used Twitter to update the world.

A prominent state official in the U.S. even mailed Dorsey requesting him to postpone the platform’s scheduled maintenance favoring the protests. “It appears Twitter is playing an important role at a crucial time in Iran. Could you keep it going?” said P.J Crowley. Dorsey accepted the request.

The wide application of the platform gave rise to yet new challenges. The system could develop frequent outage issues. And, since the system lacked a backup, the users of Twitter could lose their data frequently.

The frequent outages attracted the attention of Williams and Fred Wilson, who concluded that Dorsey was not fit to lead them as the CEO. The pair cited Dorsey’s tendency to leave the job early for his yoga and fashion classes as the cause of his poor performance in the company.

You can either be a dressmaker or the CEO of Twitter. You can’t be both,” said William.

The unceasing wrangles attracted other board members, who assisted William and Fred Wilson in kicking Dorsey out of the company he created. William then replaced Dorsey as the CEO.

Dorsey Found Square In 2009.

Dorsey could not sit down and focus on the past. After being ousted as the Twitter CEO, he met with his longtime friend, McKelvey, who needed assistance selling his glass faucets. Before they met, McKelvey couldn’t sell faucets worth $ 2000 because he lacked a system that could accept credit cards.

The pair joined hands to start a company that could develop a system that would read credit cards. They called the company’ square,’ in reference to the squared shape of most card readers.

During this time, Dorsey would not let his antagonists on Twitter use the work of his mind in peace. Indeed, he continued to undermine Williams and the other board members on social media.

Besides the critics from Dorsey, William had other management issued, and the management fired him in October 2010.

Dick Costolo replaced him as the new CEO. I can say that dick took the position at a critical point when everything in the company was heading south. He was unable to refine the company’s long-term vision and resigned on June 10th, 2015.

Following the poor management and performance of the platform, the board members had no option but to go back to Jack Dorsey. They named him as the permanent CEO on October 5Tth, 2015. That was after three months of long-term search by a team that included Williams. This must have been shameful to William.

Jack Dorsey’s Videos

Among the interviews Dorsey has held include;

  • DealBook 2017 – In an interview with renowned media personality Andrew Ross, Dorsey talks of Trump’s Twitter handle deactivation, reasons for deactivation, among other thorny issues regardingTwitter’s perceived biases.
  • The Future Has Already Arrived – in this video, Dorsey gives an inspiring talk of what the future might have in store and how best to align to it for optimal success.

Jack Dorsey’s Net Worth

Fortunes started to befall Dorsey in November 2013. Twitter’s initial public offering shifted its share price from $26 to $45 during the first trading day. With more than 23.4 million shares in the company, Dorsey turned into a billionaire within hours.

Today, Dorsey’s net worth stands at 12.9 billion, Forbes.

Jack Dorsey’s Achievements And Recognition

In 2008, the MIT Technology Review TR35 listed Dorsey among the top 35 technological innovators in the world below the age of 35 (check this business mission and value statements that have kept him grounded).

In 2012, Dorsey won the innovator of the year award for technology from wall street journal. Additionally, tech crunch awarded Dorsey as the year’s founder during their 5th annual crunchies awards in 2012.

That is not all. Forbes considered Dorsey as the most eligible bachelor in 2013.

Jack Dorsey’s Family

Dorsey is a son to Marcia Dorsey and Tim Dorsey. He is a brother to Andrew and Daniel Dorsey, who are his siblings. He was not lucky to get sisters. Additionally, Dorsey is not married at the time of this writing; neither is there information about his new relationship.

Jack Dorsey’s Quotes

Some of the billionaire famous quotes include;

“Twitter is about moving words. Square is about moving money.”

He made this quote to create clarity for individuals who did not understand the reason for his two companies, Twitter and square inc.

“Despite all that we have accomplished, Twitter still has huge unmet potential.”

The statement was for encouraging Twitter users to continue using the account in anticipation of more platform advancements in the future. After all, opportunities never end for those who are savvy in identifying them.

Jack Dorsey’s Real Estate Holdings

According to a report by Variety, Dorsey has recently bought a luxurious home worth $21.9 million. The new abode, located in the Seacliff neighborhood of San Francisco, occupies more than 3500 square feet. Its most notable features include 5 bedrooms and 3 bathrooms.

His other real estate property includes his old home, which features a midcentury modern house. Sources show that Dorsey had acquired the property in 2012 for $ 10 million. It is also located in San Fran’s swank Seacliff neighborhood.

That is not all. The young billionaire also owns a property worth $ 4.2 million in Los Angeles, where his girlfriend Raven Lyn Corneil lives.

Frequently Asked Questions about Jack Dorsey

Question: Why did Jack Dorsey make Square Inc.?

Answer: He got the idea from his long-time friend and boss McKelvey from St. Louis. Initially, McKelvey could not sell pieces of his art due to the lack of a system that could read credit cards. The two joined hands and created the company that would design such card readers. They named it square.

Question: Does Jack Dorsey have a girlfriend?

Answer: Rumors say that Dorsey is dating Raven Lyn Corneil, a sports illustrated model who is believed to be residing in his apartment in Los Angeles. According to sources, the pair was spotted together at Harper’s Bazaar Icons party during the New York Fashion Week.

Question: Are Jack Dorsey’s parents alive?

Answer: Yes, both of his parents are alive. You can have a look at the latest tweets from Tim and Marcia.

Research and List Citations

https://medium.com/highlight/top-10-jack-dorsey-quotes-2152940385ee

https://finance.yahoo.com/news/5-fun-facts-might-not-171855821.html

https://www.biography.com/business-figure/jack-dorsey

https://answersafrica.com/what-does-jack-dorsey-earn-as-salary-and-how-is-he-worth-nearly-5bn.html

https://en.wikipedia.org/wiki/Jack_Dorsey

https://www.cnbc.com/2021/02/06/twitter-ceo-jack-dorsey-almost-quit-tech-to-be-a-fashion-designer.html

https://www.theverge.com/2015/10/5/9457277/jack-dorsey-twitter-ceo-timeline

https://www.theverge.com/2015/10/5/9457277/jack-dorsey-twitter-ceo-timeline

https://medium.com/highlight/top-10-jack-dorsey-quotes-2152940385ee

 

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