The fabulous life of Jack Dorsey, Twitter's billionaire interim CEO

Mike Nudelman/Business Insider

Twitter announced Thursday that current CEO Dick Costolo will be stepping down from his post, effective July 1. 

Jack Dorsey will be returning as interim CEO. This isn’t Dorsey’s first time in this post. He cofounded Twitter with Biz Stone and Evan Williams back in 2006, but left the company in 2008. He returned in 2010 to lead product, but ended up scaling back his responsibilities.

He will stay on as CEO of Square, the mobile payments company he founded in 2010, while managing new responsibilities at Twitter. 

Dorsey first became a billionaire in 2012, and he is currently worth $US2.4 billion. 

Rebecca Borison wrote an earlier version of this story. 

Dorsey began programming while attending Bishop DuBourg High School. At age 15, Dorsey wrote dispatch software that is still used by some taxi companies.

Source: Bio.

Dorsey frequently attended punk concerts as a teen when not checking out specialty electronics stores and running a fantasy football league for his friends.

Source: The Wall Street Journal

Like many of his fellow billionaires, Dorsey never graduated college, though he briefly attended Missouri University of Science and Technology and transferred to New York University before calling it quits.

Source: Bio.

In 2000, Dorsey built a simple prototype that let him update his friends on his life via BlackBerry and email messaging. But nobody else really seemed interested, so he put away the idea for a bit.

Source: The Unofficial Stanford Blog

Dorsey and his cofounders Evan Williams and Biz Stone bought the Twitter domain name for roughly $7,000, and Dorsey took out his nose ring to look the part of CEO.

Source: The Unofficial Stanford Blog and Bio.

In 2011, Dorsey got the chance to interview President Barack Obama in the first ever Twitter Town Hall.

Source: Twitter

But Dorsey was already on his way out from Twitter. Williams had taken over as CEO, and Dorsey transitioned to chairman of Twitter's board. But Dorsey immediately got started on some new projects. He invested in Foursquare and launched a payments startup called Square that lets small business owners accept credit card payments through a smartphone attachment.

Source: Twitter and Bio.

Twitter went public in November 2013, and within hours, Dorsey was a billionaire. He is currently worth $1.9 billion.

Source: Bio. and Forbes

He might have been worth more had he not given back 10% of his stock to Square. This helped out Square employees, giving them more equity and stock options. It was also helpful in acquiring online ordering startup Caviar.

Source: Business Insider and Caviar

In the meantime, he's spending his spare time serving on the board for Disney.

Source: Business Insider

According to his 'Square Favourites,' some of Dorsey's favourite things to buy include a $369 guitar, $799 bike, and a $7,500 painting of Uma Thurman.

Source: Square

Dorsey is considered by many to be one of the most stylish men in tech, regularly donning leather jackets and slim suits by Prada and Hermès. He's also grabbed attention with his Dior Homme reverse-collar dress shirts, a sort of stylish take on the popped collar.

Dorsey has been linked to supermodel Lily Cole. In 2013, they were spotted vacationing on a yacht in St. Barts.

Source: Business Insider, Daily Mail

He also reportedly paid $9.9 million for this seaside house on El Camino Del Mar in the exclusive Seacliff neighbourhood of San Francisco.

Source: Business Insider

Dorsey does not often flaunt his billions and reportedly even takes the bus to work.

He apparently does not have a desk; he just works on an iPad. He's also a licensed masseur.

Source: CBS News and The Wall Street Journal

Now read about another tech billionaire.

Here's how insanely competitive Oracle billionaire Larry Ellison really is »

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.