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Twitter CEO takes zero salary in 2017

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IANS  |  San Francisco 

Twitter CEO and co-founder Jack Dorsey in 2017 declined for the third straight year any salary. He did not take a single penny for running the micro-blogging platform.

"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," said a proxy statement that Twitter filed with the US Security and Exchange Commission (SEC).

Dorsey, however, has shares whose value went up 20 per cent since the beginning of 2018.

"As of April 2, Dorsey owned 18 million shares of Twitter, currently worth $529 million. His holdings represent 2.39 per cent of all outstanding shares," said a report in Variety on Thursday.

According to the filing, Twitter CFO Ned Segal had a total compensation package worth $14.3 million for 2017.

Twitter has 330 million monthly active users globally. The company is currently undergoing major overhauling steps under Dorsey to revive the company's fortune.

In 2016, Dorsey received personal and residential security costs totalling $68,506.

Dorsey, also the CEO of payments company Square, owns 65.5 million shares in the company which currently is worth $3.1 billion.

--IANS

na/and/in

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First Published: Thu, April 12 2018. 11:02 IST
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