“CEO Compensation of $1.40. As a testament to his commitment to and belief in Twitter’s long-term value creation potential, our CEO, Jack Dorsey, declined all compensation and benefits for 2015, 2016 and 2017, and in 2018 he declined all compensation and benefits other than a salary of $1.40,” Twitter said in a statement.
“At his own recommendation to the compensation committee, Dorsey elected to forego any compensation for 2018 other than a base salary of $1.40,” it added.
Over the past, opting for minimal executive paychecks has not been a new practice in Silicon Valley. Apple founder Steve Jobs, Google’s Eric Schmidt, Sergey Brin and Larry Page, among others were also known to pick minimal executive paychecks.