August 6, 2020

Twitter CEO donates $3M to group aiming to give free money to some Mississippians

A billionaire tech entrepreneur has agreed to donate $3 million to fund a coalition of more than a dozen mayors — including one in Mississippi – to test the viability of universal basic income, a free, recurring payment to certain residents.

Jack Dorsey, CEO of Twitter and Square, donated the money to the Mayors for a Guaranteed Income (MGI) which was formed last month by the mayor of Stockton, California.

“This is one tool to close the wealth and income gap, level systemic race and gender inequalities, and create economic security for families,” Dorsey wrote in a tweet.

The group announced Thursday the new program could reach as many as 7 million Americans in 14 cities including Jackson, Mississippi.

Other cities include Atlanta, Los Angeles and Newark, New Jersey.

Jackson Mayor Chokwe Lumumba is a participating mayor.

Exactly when the guaranteed income plan might launch or in what shape it will take have not been released.