After getting a remarkable high pay most CEOs make headlines. Twitter CEO Jack Dorsey is drawing attention for 2018 pay which remarkably low – and one which is like a symbolic indication in its own history.
As per a regulatory filing in the last year, the social-media platform reported that it paid Dorsey $1.40, an acknowledgment to the former 140-character limit of the company. As a notable twist, it has been considered as the $1salary club – a rich, rarefied group of Founder-CEOs with such huge integrity stakes in their companies that base annual salaries are symbolic and insubstantial.
While most of the companies have given their CEOs a $1 payday – whether as they are rich founders or desired to establish a symbolic gesture in the tough times – it is quite unusual to notice them “do something fun with it” said John Roe, the leader of ISIS Analytics. Twitter emerged its number of characters from 140 to 280 in 2017 as per claim of John Roe, “I have not seen that before ”.
However, Dorsey presents to have done it before. As the CEO of Square, the mobile payments system, which paid him a $2.75 salary in 2017. Square imposed 2.75 percent charges as a processing fee for the swiped transactions.
Amazon founder and CEO Jeff Bezos are considered as the richest man of the world and the owner of the The Washington Post – still had his primary salary set at $1,840 as of the recent filing, the same as it was in 1998, the year of Amazon’s IPO. A billionaire, Warren Buffet, the CEO of Berkshire Hathaway, had an annual base salary set at $100,000 for decades.
The filing notes of Twitter, which Dorsey ”declined all compensation”, while he was appointed as CEO again in 2015. He received no benefits, no bonus, no perquisites, no new stock awards in 2018, as per to the proxy, and did not experience any alternative to acquiring more options upon adorning. Dorsey neither received any salary or equity grants from twitter in 2017, in 2016 he also received the salary as “residential security and protective detail ” costs.