San Francisco (Uttam Hindu News): Jack Dorsey has now been appointed head and chairperson of his tech company Block (formerly Square), which he co-founded in 2009. Dorsey has moved from “Chief Executive Officer, President and Chairperson” to “Block Head and Chairperson”.
“There will be no changes to Dorsey’s roles and responsibilities and he will continue to serve as Chief Executive Officer of the company,” Block said in a filing with the US Securities and Exchange Commission (SEC). Square’s current CEO is leaving the company so Dorsey will take on additional responsibilities at the company. According to the filing, the change came at Dorsey’s request. In December 2021, Dorsey’s financial services company Square announced it was changing its name to Block.
“We also believe that Jack Dorsey has built an empire and amassed a personal wealth of $5 billion,” the report said. He is taking advantage of demography.” The block’s $29 billion deal to acquire ‘buy now pay later’ (BNPL) service Afterpay closed in January 2022. The Twitter co-founder has also launched micro-blogging platform BlueSky, which recently raised $8 million in support of its mission and growth. BlueSky received $13 million in funding last year with Dorsey on its board.