Twitter boss Jack Dorsey shares $197mn of stock with staff
October 24 , 2015
Jack Dorsey, the co-founder and chief executive of micro-blogging site Twitter, has declared that he would give one-third of his shares in the company to employees.
The stock is worth about 1% of the firm or $197 million. Dorsey said the plan was to “reinvest directly in our people”.
The move comes after Twitter announced last week that it would cut 336 jobs.
Steve Ballmer, the former CEO of Microsoft, recently bought a 4% stake in Twitter.