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The ultimate silver lining — Jack Dorsey gives a third of his shares back to Twitter employees

The ultimate silver lining — Jack Dorsey gives a third of his shares back to Twitter employees

Christmas is coming early for what’s left of Twitter’s team of workers — folks that survived the slashing of 8 p.c of the employee base have now been rewarded with a 3rd of CEO Jack Dorsey’s stock, valued at around $200 million. Speak About a silver lining.

In a tweet Thursday evening, the social media co-founder, ex-CEO, and current CEO introduced that he can be reinvesting “straight away in our folks” in a tweet that has now been favorited over 5,000 Occasions.

“I’d somewhat have a smaller part of something large than a much bigger part of one thing small,” he brought afterwards. “I’m assured we can make Twitter giant!”

The Last Few weeks were nothing wanting tumultuous for the nine-yr-outdated company. Following its whirlwind collection of layoffs, the company proceeded to hire quite a lot of big identify players to lead Twitter into its subsequent chapter, including Omid Kordestani, formerly Google’s best-paid employee, to head its board, and big apple Occasions editor-at-large Marcus Mabry to form its new Moments feature.

Dorsey’s resolution to dole out parts of his shares is a rare one, notes the Washington Publish, though some specialists speculate that the transfer is both an attempt to enhance waning morale or so as to add to the pool of Twitter shares that can be utilized to compensate the personnel without negatively impacting the firm’s inventory worth.

The 7 million shares of the 22 million Dorsey is giving freely represents around one % of Twitter at large.

The CEO is no stranger to freely giving his stock fairness, on the other hand. Not Too Long Ago, Dorsey donated 40 million of his shares in that different firm he runs and founded, Sq., and again in 2013, Dorsey gave about 10 % of his shares back to Sq. staff.

But don’t worry in regards to the jack-of-all-trades’ monetary situation — he’s greater than taken care of. He still has about $Four Hundred million worth of Twitter inventory in his again pocket, and let’s now not forget Square’s most Recent $1.6 billion valuation, according to Contemporary SEC filings for the company’s impending IPO. With all that money, there’s more than sufficient to move round.

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