Barstool Sports CEO Dave Portnoy has launched a successful Twitter charity drive to support America’s struggling small businesses.
Saving Small Businesses
Barstool Sports CEO Dave Portnoy is running an exciting social media charity to support America’s small businesses. He has managed to leverage his industry connections and massive Twitter following to contribute to the fight against the ongoing economic crisis.
Mr. Portnoy launched the funding campaign on 17 December with the ultimate goal of saving small businesses across the US. The campaign is run on the social media platform Twitter and has accumulated over $6.7 million in a relatively short amount of time.
The money comes from public and private donations and goes toward the Barstool Sports Fund. The proceeds are pooled together with money from merchandise sales and is then distributed to a variety of small businesses.
The pandemic has had a tremendous negative impact on the US economy. The US Government launched the now-famous $669 billion Paycheck Protection Program (PPP) earlier this year to help businesses survive the harsh economic climate.
However, America’s small family-owned businesses have been left mostly in the dust to fend for themselves. The PPP initiative has also drawn substantial criticism across the board, including the lack of transparency and questionable allocation of funding.
Mr. Portnoy spearheads the charity drive and is actively engaged in promoting it and urging for donations from his massive Twitter following. He has also reached out to several businessmen across industries, including National Football League Commissioner Roger Goodell.
On 24 December, Mr. Portnoy began accepting Bitcoin donations as well, to great effect. So far, over $500,000 of the accumulated donations are in cryptocurrencies. Not only that, but an additional $1 million was raised by the cryptocurrency community on Twitter, including from Antony Pompliano, Jason Williams, and Mason Riley, among others.
Recently, Mr. Pompliano tweeted that TRON CEO Justin Sun had suggested that he would pitch in $500,000 to the charity drive as well. However, Mr. Sun has no far not replied to the tweet or to any inquiries.
The campaign has received wide-spread support and praise from the Twitter community at large. Many have praised the goal of the charity drive, as well as its execution.