Jack Dorsey, the Chief Executive of Twitter, has received his first salary in 2018 amounted $1.40- one cent for each of 140 characters Twitter users were permitted to include in tweets earlier. The 140 character limit was increased then to 280 characters in 2017. It is yet unknown whether Mr. Dorsey’s salary would be double too.
He has rejected all direct compensation and benefits for 3-years tenure since 2015. In 2018, Mr. Dorsey has declined all compensation other than a salary of $1.40, reports Twitter in a regulatory filing on Monday.
The co-founder of Twitter has for years elected to not receive any salary from social media company “as a testament to his commitment to and belief in Twitter’s long-term value creation potential,” added the filing.
However, Mr. Dorsey has shares whose value rises up to 20 percent since the beginning of 2018. In 2015, he has returned to Twitter as its Chief Executive, having held the post when it was nascent.
Jack Dorsey is not only the one who takes home a symbolic pay. As Facebook CEO Mark Zuckerberg’s base salary also remains at $1, unchanged for many years. Since 2004, Alphabet’s Chief Executive Larry Page has also received a base salary of $1 per annum and was not offered any additional compensation as well.