Insta
Jack Dorsey Drew $1.40 As Salary Last Year: Half A Cent For Each Of The 280 Characters Users Are Allowed to Tweet
Twitter CEO Jack Dorsey (Drew Angerer/Getty Images)
Following the likes of many CEOs, Jack Dorsey the Twitter Chief joined an elite club by earning close to nothing - $1.40 as salary for the year ending 2018.
Incidentally, this is the first time Dorsey has received a salary as he continued to decline any compensation or benefits since he rejoined as the company as CEO in 2015. Some say that this shows his commitment in the long term value creation potential of Twitter as a platform. Dorsey also gave away one-third of his shares to Twitter employees.
Dorsey is among other founders who opted for minimal executive packages which includes Steve Jobs of Apple, Eric Schmidt, Sergey Brin and Larry Page founders of Google, Yahoo's Carol Bartz and Terry Semel, Cisco's John Chambers and Oracle's Larry Ellison.
"But perhaps Dorsey will soon be graduating to a new level, say a doubling of his salary to $2.80? It's quite possible that Dorsey and his board of directors agreed upon the amount in late 2017, as the company was getting ready to transition from 140-character-capped tweets to its current 280-character limit," the report said.
Dorsey co-founded Twitter with Ev Williams, Biz Stone and Noah Glass. He continued to be the company CEO till 2008 and after which he went on cofound Square a payment gateway company. He was CEO of Square till 2015 till the company went public. Dorsey’s net worth is estimated at $5.3 billion.
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