Jack Dorsey

So Just How Much Is Jack Dorsey's Salary at Square?

1 min read
This story originally appeared on Fortune Magazine

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.

Of course, Dorsey doesn’t necessarily need a salary. His stake in Square and Twitter, where he also serves as CEO, is worth over $1 billion. He doesn’t take a salary of consequence at Twitter either.

Square’s shares fell 5.8 percent on Thursday trading to $11.33.

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