Money

Twitter paid CEO Jack Dorsey $1.40 in 2018 — a nod to its old 140-character limit

Twitter CEO Jack Dorsey speaks during a press event at CES 2019 on January 9, 2019 in Las Vegas, Nevada.
David Becker | Getty Images News | Getty Images

Twitter says it paid co-founder Jack Dorsey a salary last year for the first time since he returned to his post as CEO in 2015.

The billionaire was paid a symbolic sum of $1.40 in 2018, the firm said in a regulatory filing Monday, a nod to Twitter's old 140-character tweet limit.

Twitter's reasoning? It's "a testament to his commitment to and belief in Twitter's long-term value creation potential."

Dorsey isn't the only tech executive who takes in a tiny salary. Other founders, including Facebook's Mark Zuckerberg and Alphabet's Larry Page, earn only $1 a year in salary, opting instead for compensation tied to company performance.

Despite the paltry pay packet, Dorsey netted $80 million in 2018 after selling 1.7 million shares of his payments company Square, according to Forbes, and is worth $4.7 billion.

The microblogging site ditched its 140-character limit in 2017, bumping the restriction up to 280 characters per tweet. Dorsey has said in the past that the previous number was viewed as "sacred" internally.

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