Twitter CEO Jack Dorsey Is Giving $200M Of His Twitter Stock To Staff

Twitter CEO Jack Dorsey Is Giving $US200M of His Twitter Stock to Staff

Twitter's new CEO Jack Dorsey has enough cash to go round. So much so, in fact, that he's announced that he's giving one-third of his stock holdings in the social media company to his employees.

In a tweet, Dorsey announced that he'll be giving back one-third of his approximately 22 million shares of stock to the employee equity pool, where they will be distributed amongst staff. In total that's around $US200 million in stock.

Of the news, he explained that he'd "rather have a smaller part of something big than a bigger part of something small. I'm confident we can make Twitter big!" Well, that, and the remaining $US400 million worth of stock, at least.

Still, it might help remaining Twitter employees look on Dorsey more fondly, given he just sacked 336 of their co-workers.

[Re/Code]

Image by Esten Hurtle under Creative Commons licence.