Twitter’s New Chairman Could Earn $36 Million And That’s A Paycut For Him

Omid Kordestani at Twitter

Twitter’s new executive chairman Omid Kordestani, who left his job as Google’s chief business officer earlier this week to join Twitter, is only going to receive a $50,000 annual salary according to an SEC filing from Twitter Friday morning. However, his compensation package could net upwards of $36 million.

Kordestani will receive an options grant to buy 800,000 shares of Twitter and a one-time stock award of an additional 400,000 shares that will vest based on whether the company meets certain performance targets over the next few years.

With shares trading around $30 at the moment, Kordestani’s potential stake in the company could be worth $36 million.

Sure that sounds like a ton of money, but Kordestani was one of Google’s first employees and he received nearly $130 million in compensation last year. That made him Google’s highest-paid employee.

Kordestani received a prorated annual salary of $236,500, a bonus of $6.5 million and stock awards worth more than $123.5 million.

It’s not clear what will happen to Kordestani’s Google stock compensation.

Kordestani good inject much needed new life into Google, he was dubbed “the soul of Google” in a story by Re/Code last year.

He has now traded in working with Alphabet CFO Ruth Porat for a chance to work with Twitter and Square CEO Jack Dorsey. With Jack splitting his time between two projects, Twitter will likely lean heavily on Kordestani, and with his track record that isn’t a bad thing.