Please enable JavaScript to experience the full functionality of GMX.

Twitter founder Jack Dorsey to pocket almost $1bn from sale

Jack Dorsey could pocket almost $1 billion from the sale of Twitter.

The 45-year-old entrepreneur- who is the co-founder and former CEO of the microblogging platform - is set to reportedly pocket $978m after Tesla founder Elon Musk paid $44bn on Monday (25.04.22), according to The Wrap.

The businessman - who has a reported net worth of $7.3bn but has declined to take a salary from the company and instead chose to takes a mere $1.40 annually - has 18 million shares in the company, so with Musk buying Twitter for $54.20 per share, that would take Dorsey's cash payout to around $978 million.

The outlet went on to claim that company’s CFO, Ned Segal, would receive $39 million in a payout if the SpaceX multi-billionaire were to bring in new management to oversee his latest venture.

It comes after Dorsey admitted that while he didn't believe that " anyone should own or run Twitter", there was a "problem" which only Elon - who had initially bought a 12.5 per cent share in the company before purchasing the whole thing - could solve.

He tweeted: "In principle, I don’t believe anyone should own or run Twitter. It wants to be a public good at a protocol level, not a company. Solving for the problem of it being a company, however, Elon is the singular solution I trust. I trust his mission to extend the light of consciousness.

This is the right path and I am happy that Twitter will continue to serve the public conversation."

Sponsored Content