Twitter co-founder Jack Dorsey loses over $500 million in just one day, here is why

Jack Dorsey lost over $500 million in net worth in a single day after a report by Hindenburg Research raised questions about the business practices of Block, a company in which he is a major investor.

[{"selector":"#anim-aaee0fe0-d5f1-4e17-abc5-6ffdf4387908 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-32.05581348850206%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] The Hindenburg Research report accused Dorsey of engaging in unethical and possibly illegal practices, including misleading investors and the government about the company's finances and details. Arrow

[{"selector":"#anim-69bfc5a2-ecbc-4768-b862-19ec314fec8a [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(7.830698579392855%, 0, 0) translate(25%, 0%) scale(1.5)","translate3d(0%, 0, 0) translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.14,.34,.47,.9)","fill":"forwards"}] Dorsey's fortunes plunged by $526 million within a day, and he is now worth just $4.4 billion. This has reportedly been the worst single-day decline since May for the Twitter founder. Arrow

[{"selector":"#anim-6d1fd326-7508-46f5-8e70-6c09a9e66e7b [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-7.812499744007886%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] The allegations made in the report are not yet proven, and Block has denied the allegations and is planning to take legal action. Arrow

[{"selector":"#anim-315f6827-e37f-4737-813d-33394f6d8d48 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(31.240568296631277%, 0, 0) translate(25%, 0%) scale(1.5)","translate3d(0%, 0, 0) translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.14,.34,.47,.9)","fill":"forwards"}] Most of Jack Dorsey's fortune is tied up with Block, and with the fall in stocks, his net worth also took a steep dip. Arrow

[{"selector":"#anim-45bf2196-c0fe-422f-8a5e-f3c1c1faa7ee [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(28.90624987200394%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] Dorsey derives his wealth from his stakes in Twitter, Block, and other companies he has invested in. Arrow

[{"selector":"#anim-694fb102-3b8c-4dc2-8b05-9192aa953e39 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-31.249999886225726%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] Hindenburg Research is a US-based short-seller that has released shocking investigations against big tycoons in the past. Arrow

[{"selector":"#anim-2daefa22-f0f8-46d5-aeb6-79d65343d169 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(7.812499744007886%, 0, 0) translate(25%, 0%) scale(1.5)","translate3d(0%, 0, 0) translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.14,.34,.47,.9)","fill":"forwards"}] In January, the report published an investigation on the Adani Group empire, causing a significant fall in the company's stocks. Arrow

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