Twitter CEO Dorsey takes a salary of $1.40 - second year in a row!

Edited By: Bharat Sharma WION Web Team
New Delhi, India Published: Apr 17, 2020, 04:10 PM(IST)

File photo: Twitter CEO Jack Dorsey Photograph:( Reuters )

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It is expected that his salary would rise to $2.80 eventually as Twitter has increased the limit of characters to 280 per tweet

For the second year in a row, Twitter CEO and billionaire Jack Dorsey has taken a salary of $.140.

Recently, the CEO had announced to donate $1 billion towards coronavirus relief.

In 2017, Dorsey earned nothing, which increased to $1.40 in 2019.

"At his own recommendation to the compensation committee and consistent with his compensation in 2018, Mr. Dorsey elected to forgo any compensation for 2019 other than a base salary of $1.40," Twitter said in an SEC filing.

Additionally, the filing touted it “is a testament to his commitment to and belief in Twitter's long-term value creation potential".

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When Dorsey resumed control of Twitter in 2015, his salary added up to one cent for each character out of the 140 that users were permitted to include.

It is expected that his salary would rise to $2.80 eventually as Twitter has increased the limit of characters to 280 per tweet.

Based on Forbes numbers, Dorsey is worth $3.9 billion, mostly because of this role as CEO of a company called Square, which is about financial services and mobile payment.

It was from this company that Dorsey had set aside $1 billion to fight COVID-19.

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"Simply: I own a lot more Square. And I'll need to pace the sales over some time. The impact this money will have should benefit both companies over the long-term because it's helping the people we want to serve," Dorsey recently tweeted.

Dorsey claims to have funded organisations with potential impact in the past, with funding running up to over $40 million.

He also runs a non-profit organisation with musician Rihanna. “The Clara Lionel Foundation” (CLF) has been able to set aside $4.2 million to help victims of domestic violence during the coronavirus pandemic.

In Los Angeles alone, the CLF has committed $2.1 million to assist victims of violence at home.

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