Twitter CEO Jack Dorsey has received his first salary in four years, and it was a hefty sum of $1.40, according to company's Securities and Exchange Commission filing.
You read that right, it's $1.40, not $1.40 million or anything.
For three years, the social platform CEO "declined all compensation and benefits," and in 2018 he declined all benefits "other than a salary of $1.40," a section of the filing reads.
According to the document, Dorsey rejected his benefits "as a testament to his commitment to and belief in Twitter's long-term value creation potential."
In 2017, Twitter doubled the limit to 280 symbols. It is unclear whether Dorsey will increase his salary accordingly.
While working as a CEO for free sounds like a cool move, it is actually quite common among Silicon Valley executives. Apple's Steve Jobs; Google's Eric Schmidt, Sergey Brin and Larry Page; Yahoo's Carol Bartz and Terry Semel; Cisco Systems' John Chambers; and Oracle's Larry Ellison were all working for a symbolic salary or no salary at all, CNet report says.
Dorsey's net worth is estimated to be over $5 billion (according to Washington Examiner), so he might afford that. Most of his wealth is believed to be in shared of Twitter and Square, a mobile payments company, for which he is also a CEO. Earlier in 2018, Dorsey sold some 1.7 million shares of Square, making about $80 million, Forbes report says. Maybe he needed some pocket money — who doesn't, after all?