Twitter’s co-founder Jack Dorsey has received his first salary of $1.40 (Sh140) since returning to his chief executive officer role in 2015.
The modest pay equals the original character limit for a tweet on the social media site, according to a regulatory filing disclosed on Monday, April 8.
Dorsey has declined all compensation and benefits for 2015, 2016 and 2017 as a testament to his commitment to and belief in Twitter’s long-term value creation potential, stated the report. He elected to forego any compensation for 2018 other than a base salary of Sh140.
Twitter’s other executive officers including chief financial officer Ned Segal, chief legal officer and secretary Vijaya Gadde and customers lead Matthew Derella received a salary of Sh50 million. Engineering Lead Michael Montano received a salary of Sh35 million.
The 140-character limit was the maximum length of a Twitter post since the social media site started in 2006.
In 2017, the company expanded the character count to 280, allowing users to write longer tweets. It’s not sure if his coming salary will jump to Sh280.
Dorsey joined a handful of other wealthy CEO’s including Facebook founder Mark Zuckerberg, Google’s Sergey Brin and Larry Page, to take a symbolical base salary.
Aaron Boyd, director of governance for Equilar, a company that researches executive compensation, said: “The dollar salary really for them is meant to signify that they have large stakes in their company.
“The value they’re going to receive, the compensation they’ll earn, is coming solely from their stock.”