The Twitter co-founder has refused any pay from Twitter since 2015 except for the $1.40.
Twitter co-founder Jack Dorsey received his first salary of 140 cents since returning to the CEO role in 2015, while co-founder Ev Williams took a salary of $275,000 home in 2018.
According to a regulatory filing disclosed on Monday, Jack has elected to not receive any salary, bonuses or stock awards from Twitter since 2015 “as a testament to his commitment to and belief in Twitter’s long-term value creation potential”.
The 140 cents equals the original character limit for tweets on Twitter’s social network. In 2017 the character limit was increased to 280 characters to boost user engagement, but there’s no indication that Jack intends on doubling his pay.
When his $1.40 runs out, he can always make use of the $2.75 annual salary he receives from his other business, Square. Incidentally, that figure relates to the 2.75 percent the company receives per swiped transaction.
To get his hands on some spending money, Jack sold 1.7 million shares of Square worth $80 million last year and holds more than 16 million Twitter shares worth $557 million. His net worth stood at around $4.7 billion at the end of 2018, with his 61 million Square shares accounting for $3.9 billion of that.
