Twitter CEO and co-founder Jack Dorsey in 2017 declined to receive his salary payments for running the micro-blogging for the third straight year.
“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,” a proxy statement Twitter filed with the US Security and Exchange Commission (SEC) noted.
However, Dorsey has shares which 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,” reports stated on Thursday.
According to the Twitter filing with the US SEC, 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.
