Twitter CEO takes no salary in 2017

Twitter CEO and co-founder Jack Dorsey in 2017 has not taken salary for the third straight year in a row. He has not taken any remmuneration 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 and its value went up 20 % since the beginning of 2018.

“As of April 2, Dorsey owns 18 million shares of Twitter, currently worth $529 million. His holdings represent 2.39 % of all outstanding shares,” said a report.

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 a major overhaul to revive its fortunes.

In 2016, Dorsey received personal and residential security costs totalling $68,506.

He is also the CEO of payments company Square, owns 65.5 million shares in the company which currently is worth $3.1 billion.