Jack Dorsey Is Giving One-Third Of His Stock To Employees

Jack Dorsey Giving One-Third of his stock to employees

Twitter Chief Executive Officer Jack Dorsey is giving one-third of his company stock back to his employees, a move valued at nearly 1% of the company’s outstanding shares. 

Dorsey is planning to place those shares into the employee equity pool.

The move will “reinvest directly in our people,” Dorsey said.

Dorsey was named Twitter’s permanent CEO this month. He is also the CEO and founder of Square, a payments portal that recently filed for its own IPO

Twitter has not responded to requests for comment outside of its regular business hours.

Former Microsoft CEO Steve Ballmer recently announced that he purchased 4% of Twitter’s shares, valued at nearly $900 million. Ballmer after Dorsey’s equity play will own almost double the number of shares owned by Twitter’s co-founder.

Written by Peter Mondrose

Peter Mondrose is the Editor-In-Chief at BusinessPundit. He received his degree in Economics in 1998 and a second degree in Journalism in 2004. He has served as a financial adviser, market trader, and freelance journalist for the last 11 years. When he's not investigating market conditions and reporting on workplace news, he can be found traveling with his wife, dog, and laptop. He can be reached at OnlineDegree.com.