On Thursday, Jack Dorsey, the billionaire CEO of Twitter, announced he is working with 14 American mayors to fund universal basic income (UBI) trials in their cities.
Former presidential candidate Andrew Yang helped bring the idea of universal basic income into the mainstream and is funding his own UBI pilot program.
Billionaire Jack Dorsey, the cofounder of Twitter, is spending millions to experiment with universal basic income.
Dorsey's experiment is part of a larger initiative called Mayors for a Guaranteed Income.
In a statement, it said that it envisions the basic income as a flexible supplement to existing social programs.
Still, Dorsey isn't the only wealthy American experimenting with universal basic income.
The one-time $1,200 stimulus checks Americans received earlier this year as a part of the CARES Act were essentially an interim universal basic income, Business Insider previously reported. »