Jack Dorsey, the founder of Twitter and the payment app called 'Square' announced plans to donate 28% of his wealth to virus relief efforts. 

Dorsey tweeted the news Tuesday, saying he will fork over $1 billion to help relieve the effects of novel coronavirus. 

I’m moving $1B of my Square equity (~28% of my wealth) to #startsmall LLC to fund global COVID-19 relief. After we disarm this pandemic, the focus will shift to girl’s health and education, and UBI. It will operate transparently, all flows tracked here: https://t.co/hVkUczDQmz

— jack (@jack) April 7, 2020

The 43-year-old explained that he will use shares he owns in Square to fund the donations, which will be distributed through the Start Small Foundation.

He went on to say once the relief efforts have served their purpose, any remaining money will be used to support girls health and education as well as research into universal basic income.

The tech industry billionaire is following in the footsteps of his colleagues who've made similar announcements.

Facebook founder Mark Zuckerberg publicly committed $30m, the bulk of which is focused on efforts to create a treatment.

Meanwhile, Amazon's Jeff Bezos informed the public that he's donated $100m to U.S. food banks and Apple's chief executive Tim Cook announced the company would donate medical supplies to Italy, which has been hit hard by the virus.