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Twitter CEO Jack Dorsey Declines His Salary for 2017 His Third Straight Year

Twitter CEO Jack Dorsey Declines His Salary for 2017 - His Third Straight Year

By Indo-Asian News Service | Updated: 12 April 2018 15:00 IST

Highlights

Dorsey has shares whose value went up 20 percent since beginning of 2018
As of April 2, Dorsey owned 18 million shares of Twitter
Value of his shares is currently $529 million

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 percent since the beginning of 2018.

"As of April 2, Dorsey owned 18 million shares of Twitter, currently worth $529 million (roughly Rs. 3,450 crores). His holdings represent 2.39 percent 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.

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