Jack Dorsey receives $0 from Twitter for third straight year
What's the story
Twitter CEO and co-founder Jack Dorsey declined to take any salary from the company in 2017, making it the third consecutive year Dorsey ran Twitter for free. A proxy statement Twitter filed with the US Security and Exchange Commission stated, "As a testament to his commitment to and belief in Twitter's long-term value creation potential, our CEO, Jack Dorsey, declined all compensation for 2017."
Information
At least he has a bundle of equity
However, Dorsey still owns shares in the micro-blogging website whose value has gone up 20% since the beginning of 2018. According to reports, "As of April 2, Dorsey owned 18 million shares of Twitter, worth $529 million. His holdings represent 2.39% of all outstanding shares."
In Contrast
Other Twitter top execs were paid in full
According to the Twitter filing, company CFO Ned Segal received a total compensation worth $14.3 million in 2017. Further, Twitter's executive chairman Omid Kordestani received an annual increase in his total compensation package by 12.6%, with $50,000 in base salary and $2.04 million in stocks. While Segal joined Twitter last year, Kordestani, who was Google's former business chief, joined the company in 2015.
Square
Multiple companies, multiple sources of income
It should be noted that Dorsey also is the CEO of payments company Square. According to the company's proxy statement, Dorsey owned 65.5 million shares of Square in 2017, which are currently worth $3.1 billion. His base annual salary in 2016 from Square was just $2.75. Lastly, Dorsey reportedly received a total personal and residential security cost of $68,506 in 2016.