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Twitter chief executive Jack Dorsey paid $1.40 in 2018

NEW DELHI: Micro-blogging site Twitter Inc said on Monday that it has paid $1.40 to its chief executive officer (CEO) Jack Dorsey in 2018. Dorsey had declined all direct compensation and benefits in 2015, 2016 and 2017.

“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.