Jack Dorsey is about to be a billionaire — on paper, at least.
[aditude-amp id="flyingcarpet" targeting='{"env":"staging","page_type":"article","post_id":497154,"post_type":"story","post_chan":"none","tags":null,"ai":false,"category":"none","all_categories":"business,","session":"B"}']The Twitter creator will be catapulted to billion-dollar-man status when his payments startup Square closes a $200 million funding round at a $3.25 billion valuation, as the New York Times reports.
PrivCo, a firm that specializes in analyzing the financials of private companies, pegs Dorsey’s reduced stake at roughly 26 percent, which would make Square an $845 million asset for the 35-year-old entrepreneur.
AI Weekly
The must-read newsletter for AI and Big Data industry written by Khari Johnson, Kyle Wiggers, and Seth Colaner.
Included with VentureBeat Insider and VentureBeat VIP memberships.
Dorsey, said PrivCo CEO Sam Hamadeh, also holds a 3 percent stake in Twitter worth about $258 million. Secondary markets value Twitter at around $8.6 billion.
Dorsey’s combined net worth then will be north of $1.1 billion when the Square round closes. Perhaps that cliff-side San Francisco mansion he purchased earlier this year is well-deserved.
Photo credit: Kevin Krejci/Flickr
VentureBeat's mission is to be a digital town square for technical decision-makers to gain knowledge about transformative enterprise technology and transact. Learn More