The reality of former Twitter co-founder Jack Dorsey in Nairobi has swept away Kenya’s tourism and crypto sectors. Twitter changed to X following its acquisition by American mogul Elon Musk in October 2022. It’s such big news for the Kenyans that Dorsey is in Kenya in December. Normally, the last month of the year is synonymous with the festive season.
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Why is Jack Dorsey in Nairobi?
Dorsey flew to Nairobi for the African Bitcoin Conference (ABC). He arrived on Monday, December 9. Photos of his presence in Kenya went viral across social media many Kenyans expressing their amazement about Jack Dorsey in Nairobi. A lot of his followers couldn’t help but express their wonder over his simplicity yet, he is a billionaire.
The 48-year-old publicly endorsed ABC in Madeira, Portugal where a Bitcoin conference was held in April 2024. He promised to attend the conference in Africa as a way to promote its inclusivity and networking among crypto experts. The former Twitter CEO is intent on using his influence in the global tech space to increase Bitcoin investment by Africans. His first public support for Bitcoin in the African continent was in Ghana where he visited in 2022. Ghana was the first host of the African Bitcoin Conference held in Accra, Ghana’s capital city.
Former Twitter co-founder and Block Inc CEO Jack Dorsey in Nairobi. Photo/
He later flew to Kenya the same year for a meetup with Kenyan technology enthusiasts at iHub in Nairobi. Located in the city suburbs of Kilimani, iHub is a recognized tech innovation centre worldwide. It advances technology and social capital to drive economic growth in Kenya and Africa. This 2022 meetup with all tech innovators was historic; it was the first time for Jack Dorsey in Nairobi. He shared insights on how to build innovative tech products.
Is Jack Dorsey CEO of Block?
Dorsey is the CEO of Block Inc., the company behind Cash App. The company acquired this name after rebranding in December 2021 from Square. The American techpreneur co-founded Square in 2009 together with Jim McKelvey as a financial services provider. It focused on building financial products for businesses and became a publicly listed company in 2015. Some of the financial products Square produced include the following:
- Card payments for businesses
- Online invoice management systems
- Cash App
- Mobile payment services
He rebranded the company to Block Inc. in 2021 with a wider scope beyond providing financial services. Twitter was then the biggest investment under Block offering something different other than financial services. Following its sale to Musk in 2022, Block, Inc solely focused on blockchain technology, with massive investment in Bitcoin. Block holds bitcoins valued at $630 million currently. It intends to increase this value by investing more in bitcoin mining and its intended bitcoin wallet known as Bitkey. However, most bitcoin investors use Cash App to trade bitcoin
How Much is Jack Dorsey Worth Now?
Former Twitter co-founder and Block Inc CEO Jack Dorsey in Nairobi. Photo/Tedtalk
The presence of Jack Dorsey in Nairobi for the African Bitcoin Conference renewed interest in his net worth. Forbes estimates that he is worth $5.74 billion as of 2024. While speaking at the conference in Nairobi, Dorsey praised Kenya’s tech space. He said that it has valuable lessons for bitcoin growth in Africa. He added that America has several things to learn from the Kenyan tech ecosystem.
His company Block Inc reportedly invested $2 million in a Kenyan startup called Gridless founded by Erik Hersman. Gridless’ focus is on creating sustainable channels for Bitcoin mining in Africa. With a billion-dollar net worth, Dorsey’s biggest act of benevolence was in 2020 during the Covid-19 pandemic. He pledged $1 billion toward the pandemic’s relief among other causes. Reports by Forbes further indicate that Dorsey has granted $635 million out of the $1 million pledge as of December 2024.
Where Does Jack Dorsey Reside?
While Jack Dorsey in Nairobi is a big subject for Kenyans, his permanent residence is in San Francisco, California. He lives in $21 million luxurious estate in San Francisco’s posh Sea Cliff neighbourhood. The property sits on 0.62 acres with breathtaking views of the city’s bay. Sea Cliff is a favourite neighbourhood for wealthy people looking at buying property which they can easily integrate with nature.
Frequently Asked Questions (FAQs)
- Does Jack Dorsey have a family?
Dorsey does not have a family yet despite his massive net worth. He keeps his life as private as possible.
- How does Jack Dorsey spend his money?
He spends it on growing his investments in fintech and financial space. He, however, donated $1 billion of his net worth in 2020 toward the COVID-19 pandemic relief and other humanitarian causes.
- Does Jack Dorsey have a degree?
Dorsey doesn’t have a degree yet. He was set to graduate at New York University in 1999 after transferring from Missouri University of Science and Technology but he dropped off a semester before graduating to focus on building Twitter.
