Don’t feel sorry for Twitter CEO Jack Dorsey who received a salary of $1.40 for 2018. His bitcoin stash likely keeps him warm at night.
Jack Dorsey Gets Paid $1.40 as Twitter CEO
According to the Washington Post, an SEC filing published on Monday (April 8, 2019) shows that Twitter paid Dorsey an annual salary of $1.40 in 2018. The sum is most likely a nod to the platform’s previous 140-character limit for posts.
Dorsey’s other company – Square, reportedly paid him a $2.75 salary for 2017. This figure is also symbolic as 2.75 percent is the company’s processing fee on swiped transactions.
It’s a common trend for tech billionaires to pass up on their annual salary since they have massive equity stakes in their companies. Thus, they accept only a tiny salary while collecting huge compensations tied to the performance of their companies.
While base annual salaries are a token for people like Dorsey, the Twitter CEO’s Bitcoin stake makes the need for them even more inconsequential. As previously reported by Bitcoinist,…