Twitter CEO takes zero salary in 2017
San Francisco, April 12: 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 per cent since the beginning of 2018.
"As of April 2, Dorsey owned 18 million shares of Twitter, currently worth $529 million. His holdings represent 2.39 per cent 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.
Let the Truth be known. If you read VB and like VB, please be a VB Supporter and Help us deliver the Truth to one and all.
SC temporarily stays Karnataka HC order to stay election of KY Nanjegowda, Cong MLA from Malur
New Delhi: The Supreme Court has temporarily stayed an order by the Karnataka High Court to set aside the election of KY Nanjegowda, Congress legislator from Malur constituency in Kolar district, in 2023.
The two-judge bench of Justices Vikram Nath and Sandeep Mehta has directed the Election Commission of India (ECI) to hold a recount of the constituency votes and submit the report on the outcome in a sealed cover, LiveLaw has reported.
The bench also stated that the result of the recount may not be made public without the permission of the Supreme Court.
