Twitter CEO Jack Dorsey's salary last year was only $1.40, but you don't have to regret him. His bitcoin has already made him satisfied.
Twitter CEO with an annual salary of $1.40
According to the Washington Post, a document released by the US Securities and Exchange Commission on Monday showed that Twitter paid Dorsey an annual salary of $1.40 in 2018. This number is likely to represent a 140-character limit on the number of times the platform is pushed.
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It is reported that another company of Dorsey, Square, paid him a salary of 2.75 US dollars in 2017. This number is also symbolic, because 2.75% is the company's handling fee for handling credit card transactions.
It is a common trend for billionaires in the technology industry to abandon their annual salary because they have a large stake in their own company. Therefore, they only accept a modest salary, but they can get huge income linked to the company's performance.
According to the documents submitted by Twitter, Dorsey refused to accept compensation when he was re-appointed as CEO of the company in 2015. It is worth noting that the Twitter CEO owns a 2.3% stake in the company, worth about $4.7 billion.
Dorsey's Bitcoin Blueprint
For people like Dorsey, the basic annual salary is a symbol, but from the habit of setting his own bitcoin, this demand becomes even more irrelevant. It is reported that Dorsey recently bought Bitcoin worth 10,000 US dollars every week.
Although no one knows how many bitcoins Dorsey holds, bitcoin has risen nearly 40% since the beginning of the year. This increase was mainly due to its performance in April this year. Therefore, it is safe to say that Dorsey's position has performed well, especially in the past month.
(Nearly 7 years of bitcoin investment performance)
Dorsey is always very optimistic about Bitcoin. Earlier this year, he again emphasized on a podcast show that Bitcoin could become the Internet's native currency.
In addition to praising bitcoin in words, he is also active in the field of bitcoin technology. In March of this year, Dorsey showed off his Casa Bitcoin node, after he announced that he would soon integrate the Lightning Network on the Square Cash app.
Dorsey also plans to contribute to the development of the cryptocurrency ecosystem, and he announced funding for developers to develop open source encryption technologies. In addition, the Twitter CEO said he would pay developer fees in Bitcoin.