So Just How Much Is Jack Dorsey's Salary at Square?
Square CEO and founder Jack Dorsey had a lot to be happy about on Wednesday. His payments company’s earnings beat Wall Street estimates and it is projecting profitability -- excluding certain costs -- by the end of 2016.
But Square’s recent progress has also come with a twist: Dorsey’s salary has dropped to $2.75 from $6,000, according to a filing with the SEC on Thursday.
The new salary -- merely enough to buy a coffee -- is symbolic for Square. The number, 2.75, is also the percentage that Square charges its merchants every time a credit card is swiped through one of Square’s terminals.
Square’s shares fell 5.8 percent on Thursday trading to $11.33.