It was the first time Dorsey has drawn a salary from Twitter since he filing with the US Securities and Exchange Commission. Dorsey declined all compensation and benefits in the previous three years “as a testament to his commitment to and belief in Twitter’s long-term value creation potential,” Twitter said in its filing.of the microblogging site in 2015, the company revealed Monday in a
A rudimentary accounting shows his salary comes out to one cent for each of the 140 characters Twitter users were allowed to include in tweets when Dorsey resumed control of the company.
A paltry sum perhaps, but not unheard of. Minimal executive paychecks have become fairly commonplace in Silicon Valley over the past decade or so; previous executives opting for the symbolic salary include Apple’s Steve Jobs; Google’s Eric Schmidt, Sergey Brin and Larry Page; Yahoo’s Carol Bartz and Terry Semel; Cisco Systems’ John Chambers; and Oracle’s Larry Ellison, among others.
But perhaps Dorsey will soon be graduating to a new level, say a doubling of his salary to $2.80? It’s quite possible that Dorsey and his board of director agreed upon the amount in late 2017, as the company was getting ready toto its current 280-character limit.
A Twitter representative declined to comment, but this time next year, Dorsey might be able to use his salary to buy a gallon of gasoline, provided the price doesn’t go up — and he shops somewhere other than a Bay Area filling station.