Twitter CEO Jack Dorsey’s salary was $1.40 in 2018

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Twitter CEO Jack Dorsey testifies before the House Energy and Commerce Committee on Capitol Hill, Wednesday, Sept. 5, 2018, in Washington. Lawmakers have sparred over whether a now-reversed change to auto-suggestions on Twitter had unfairly hurt Democrats or Republicans more. Dorsey isn't saying which, but tells lawmakers he'll follow up. (AP Photo/Jose Luis Magana)

Declining all compensation and benefits for three years in a row now, Twitter CEO Jack Dorsey drew only $1.40 in salary last year, the media reported.

This was the first time Dorsey actually took a salary from Twitter since 2015, the company revealed in a filing on Monday with the US Securities and Exchange Commission (SEC).

The reason behind Dorsey declining all compensation and benefits for three years has been recognised “as a testament to his commitment to and belief in Twitter’s long-term value creation potential”, CNET quoted Twitter as saying in its filing.

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New Delhi: Twitter Co-founder and CEO Jack Dorsey addresses the students of IIT Delhi at the launch of a “youth initiative”, on Nov 12, 2018. (Photo: IANS)

According to a rudimentary accounting, Dorsey’s salary comes out to one cent for each of the 140 characters Twitter users were allowed to include in tweets when he resumed control of the company in 2015, CNET reported on Monday.

Twitter.

“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 directors agreed upon the amount in late 2017, as the company was getting ready to transition from 140-character-capped tweets to its current 280-character limit,” the report said.

Minimal executive paychecks have become fairly commonplace in Silicon Valley over the past decade.

Late Apple founder 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 have been known for opting for the minimal executive paychecks, the report noted.

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Twitter CEO Jack Dorsey testifies before the Senate Intelligence Committee hearing on Capitol Hill, Wednesday, Sept. 5, 2018, in Washington. (AP Photo/Jose Luis Magana)

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