Jack Dorsey's Net Worth Plunges $526 Million After Hindenburg Report Criticizes Block

Jack Dorsey, the co-founder of Block Inc, has witnessed a drastic fall in net worth after Hindenburg Research's latest report suggests that the payment company has issues. California: Block Inc. co-founder Jack Dorsey’s net worth was hammered after Hindenburg Research’s latest report, which alleged the payments company ignored widespread fraud. Mr Dorsey’s fortune plunged by $526 million on Thursday, his worst single-day decline since May. He’s now worth $4.4 billion after the 11% drop, according to the Bloomberg Billionaires Index.

The Twitter founder’s net worth plunged by $526 million on Thursday, marking the worst single-day decline in his fortunes since May. His net worth now stands at a significantly lower level due to the report's impact on Block's stock price. Block co-founder Jack Dorsey’s net worth was hammered after Hindenburg Research’s latest report, which alleged the payments company ignored widespread fraud.

This substantial drop in Jack Dorsey’s net worth, a staggering $526 million, highlights the immediate financial consequences following Hindenburg Research's criticism of Block Inc. Investors are reacting to the allegations, leading to significant fluctuations in the company's valuation and directly impacting Dorsey's personal wealth.