Key Takeaways

• Jack Dorsey is the co-founder of Twitter (now X) and Block (formerly Square), and has been a key figure in transforming social media and digital payments. 

• Block, originally Square launched in 2010, pivoted in 2021 to focus on blockchain and decentralized finance, reflecting Dorsey’s vision for the future of money. 

• Twitter’s evolution into X in 2022, supported by Dorsey during Musk’s acquisition, aimed to become an all-in-one platform.

Jack Dorsey is a visionary tech entrepreneur who has left a mark on both social media and finance. He co-founded Twitter, the platform that changed how people connect and share ideas online, now known as X. He also founded Block, Inc. (formerly Square), a company making payments and financial services simpler for everyone.

Born in 1976 in St. Louis, Missouri, Dorsey grew up curious about technology. His dad worked with spectrometers, which inspired his early interest in how things work. By age 14, he was already experimenting with taxi dispatch software, driven by his passion for creating innovative solutions.

Early Life and Professional Background

Education and Credentials

Dorsey began his college journey at the University of Missouri–Rolla in 1995, where he studied for over two years before transferring to New York University in 1997. He left NYU two years later, just one semester shy of completing his degree. It was during his time at NYU that he first conceived the idea that would eventually evolve into Twitter, now known as X.

How Dorsey Created Twitter(X)

In 2000, while working on a dispatch platform, Jack Dorsey came up with the idea of a messaging service that would let people share updates with friends without needing a computer. He brought the idea to Odeo, a podcasting company, where he teamed up with Christopher “Biz” Stone, Evan Williams, and Noah Glass. 

Inspired by instant messaging platforms like AOL and MSN, Dorsey and Stone decided a text-based service would better suit his status-update concept. In just two weeks, they developed a prototype that would become Twitter. When Odeo shut down in 2006, Dorsey revisited the idea and officially launched the platform that March, appointing himself CEO.

From CEO to Chairman

Dorsey got support from investors, which helped Twitter grow quickly, especially as celebrities started using the app. This made it more popular. Two years later, Dorsey moved from CEO to chairman of the board. He often left work early to spend time on hobbies like yoga and fashion design.

Jack Dorsey Hosts Obama’s Twitter Q&A

In July 2011, Twitter hosted its first-ever Town Hall with President Barack Obama. Jack Dorsey, the co-founder of Twitter, led the event. During the live discussion, Dorsey reminded Obama to keep his answers within the platform’s 140-character limit, which added a fun twist to the conversation. The event allowed millions of people to engage with the President on important topics like healthcare and the economy.

Leading Twitter and Launching Square

In 2015, when Twitter’s CEO Dick Costolo announced his resignation, Dorsey stepped in as interim CEO and later took the role permanently in October.

At the same time, in 2010, Dorsey started splitting his time between Twitter and a new venture, Square. This technology turned smartphones and tablets into debit card readers for small businesses.

However, as competitors introduced similar products, Square faced challenges, experiencing losses of up to $100 million.

Rebranding Square to Block

In 2021, Jack Dorsey changed Square’s name to “Block” to reflect his growing interest in blockchain technology. The new name also symbolized the company’s transition from its original payment services. In 2022, Dorsey took on the new brand by calling himself the “Block Head,” a playful title that connected him to the company’s focus on blockchain and decentralized finance

Dorsey Faces Pressure Over Election

In 2018, Twitter and other social media platforms were questioned by the US government. Dorsey, along with Facebook’s Sheryl Sandberg, was asked about social media’s role in the 2016 presidential election.

After hours of questioning, Dorsey tweeted a picture of his heart rate to show the pressure he was under. Twitter was also accused of being biased against conservatives. This led to a drop in share prices, and in 2019, Twitter decided to ban political ads

Elon Musk Takes Over Twitter

Dorsey and Musk had a relationship even before Musk took over Twitter. In 2020, when there were reports that Elliott Management wanted to replace Dorsey as CEO, Musk showed support for Dorsey, calling him a “good heart.” Dorsey responded by saying Musk was one of his favorite users on Twitter because his posts were focused on solving big problems and sharing his ideas openly.

Both Dorsey and Musk were interested in cryptocurrencies. Dorsey saw Bitcoin as a way to challenge traditional financial systems. In late 2021, Dorsey announced he was leaving Twitter, saying he wanted the company to move away from its original founders.

From Twitter to X

In 2022, after Musk bought Twitter, the platform was renamed “X.” This change was part of Musk’s plan to transform Twitter into an “everything app,” similar to WeChat in China, which combines messaging, payments, and other services into one platform. Musk wanted to develop the app’s features to include much more than just social media.

From Twitter(X) to Crypto

In 2022, Jack Dorsey spoke about how Bitcoin could help bring financial freedom to people worldwide, especially those without access to regular banking. He believes Bitcoin can give people more control over their money, moving away from traditional financial systems​

Dorsey left Twitter partly to focus more on crypto and blockchain through his company Block (formerly Square). He wanted to invest more time in decentralized finance (DeFi), which could change how people use and manage money.

Dorsey’s Take on Social Media’s Future

In an episode of In Good Company, tech pioneer Jack Dorsey, co-founder of Twitter (now X) and Block, sits down with host Nicolai Tangen to talk about how social media has evolved and where digital finance is headed. Dorsey discusses how Twitter came to be, why he believes open protocols are key to the future of social media, and his vision for Bitcoin as the Internet’s native currency. 

He also shares his approach to entrepreneurship, the importance of giving users more control over algorithms, and how technology can shape the world we live in. The conversation even explores intriguing questions, such as how social media might have looked if Bitcoin had existed when Twitter first launched, offering a fascinating look at the crossroads of technology, money, and personal growth.

Jack Dorsey’s Net Worth in 2026

As of 2026, Jack Dorsey, co-founder of Twitter (now X) and Block, has an estimated net worth of around $5.6 billion, according to Forbes data. Much of his wealth comes from his long-term involvement in tech and finance, particularly his stakes in Block and other strategic investments. Over the years, Dorsey has built a reputation not just as a pioneer in social media and digital payments but also as a thoughtful investor and entrepreneur, making his fortune a reflection of both innovation and business acumen.

Dorsey’s Vision for Cryptocurrency

Jack Dorsey believes Bitcoin is more than just digital money. He thinks it can help build a better financial system, one that is fairer and not controlled by banks or governments. Dorsey sees Bitcoin as a tool for freedom, especially for people in countries where the economy is unstable or where the financial system is hard to access. He believes it gives people more control over their money.

Final Thoughts

Jack Dorsey has played a huge role in shaping both social media and finance. He co-founded Twitter (now X), changing the way people connect and communicate, and started Block (formerly Square), a company leading the way in payments and blockchain technology. A big believer in Bitcoin and decentralized finance, Dorsey sees a future where people have more control over their money and aren’t limited by traditional systems. As he focuses more on crypto and open financial tools, he’s working to make the financial world fairer and more accessible for everyone.