Twitter Inc. co-founder Jack Dorsey, 35, has joined the ranks of the world’s billionaires.
Dorsey’s mobile payment company, Square Inc., is in the process of closing a $200 million investment by Rizvi Traverse Management LLC, valuing the company at $3.2 billion, according to a report Wednesday by PrivCo, a New York-based research firm that specializes in private companies’ financial data.
The report, citing unnamed sources, said Dorsey will own 26 percent of Square after this round of financing closes. The stake would be worth $845 million. Coupled with his ownership in Twitter, the social media company, Dorsey is a billionaire, the report said.