Twitter CEO Receives Salary of Rs 97.42 in 2018
Business
Apr 10, 2019

Jack Dorsey, CEO of Twitter agrees to a salary of $1.40 while Mark Zuckerberg, CEO of Facebook receives an annual salary of $1.00.

For three years since 2015, 2016 and 2017, Jack Dorsey, the CEO of Twitter refused to take any direct benefits and compensation. However in 2018, he agreed to a salary of $1.40, which is Rs 97.42.

Jack Dorsey is also the CEO of a mobile payment company called Square as well. In this company he earns a salary of $ 2.75 which is Rs 190.29.

In December 2018, Dorsey sold 1.7 million shares of Square, and earnt close $80 million. Dorsey's stake on Twitter is worth $600 million,which he hasn't touched.

Twitter's other co-founder, Evan Williams has sold or donated nearly half his Twitter stock since April 2018.

Dorsey is not the only CEO who earns a salary of $1. Facebook CEO Mark Zuckerberg also earns a salary of $1 every year. He is the lowest paid employee of Facebook.

Such salaries are paid in situations where a company's top executive wishes to work for free, but for legal reasons he/she must receive a payment above zero. This shows that CEOs are looking out for shareholders rather than drawing a large amount of salary.