Twitter paid Jack Dorsey $1.40 in 2018, an ode to old character limit
Payne Capital Management Senior Wealth Adviser Michelle McKinnon and ERShares CEO Joel Shulman on Twitter CEO Jack Dorsey's comments about the company's targeting of conservatives.
Twitter paid its CEO Jack Dorsey $1.40 in 2018, a homage to the social media company’s old, 140-character limit.
According a Securities and Exchange Commission filing, Dorsey did not receive any additional compensation or benefits from Twitter last year.
“As a testament to his commitment to and belief in Twitter’s long-term value creation potential, our CEO, Jack Dorsey, declined all compensation and benefits for 2015, 2016 and 2017, and in 2018 he declined all compensation and benefits other than a salary of $1.40,” the firm said in the regulatory filing.
Despite not taking a salary, however, Dorsey still managed to pocket about $80 million in 2018: According to Forbes, he sold 1.7 million shares of Square that year. He’s worth an estimated $4.7 billion, with his 61 million shares of Square accounting for $3.9 billion.
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Dorsey isn’t the only executive in Silicon Valley to eschew a traditional salary. Facebook CEO Mark Zuckerberg and Google co-founders take home a base salary of $1 per year.