- Twitter says it paid co-founder Jack Dorsey a salary last year for the first time since he returned to his post as CEO in 2015.
- The billionaire was paid a symbolic sum of $1.40 in 2018, the company says in a regulatory filing.
Twitter TWTR says it paid co-founder Jack Dorsey a salary last year for the first time since he returned to his post as CEO in 2015.
The billionaire was paid a symbolic sum of $1.40 in 2018, the firm said in a regulatory filing Monday, likely a reference to Twitter's old character limit.
Twitter's reasoning? It's "a testament to his commitment to and belief in Twitter's long-term value creation potential."
Dorsey isn't the only tech executive who takes in a tiny salary. Other founders, including Facebook's FB Mark Zuckerberg and Alphabet's GOOGL Larry Page , earn only $1 a year in salary, opting instead for compensation tied to company performance.
Despite the paltry pay packet, Dorsey netted $80 million in 2018 after selling 1.7 million shares of his payments company Square, according to Forbes , and is worth $4.7 billion.
The microblogging site ditched its 140-character limit in 2017 , bumping the restriction up to 280 characters per tweet. Dorsey has said in the past that the previous number was viewed as "sacred" internally .
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