Twitter CEO 'JackDorsey is giving away $200 million of his own stock, or 1% of the company, to his employees. Dorsey tweeted that he's giving away one-third of his shares to the “employee equity pool to reinvest directly in our people.”
The equity will come directly from his own holdings, which The Telegraph reports amounts to roughly 21.86 million shares in total.
Dorsey also tweeted. “I'd rather have a smaller part of something big than a bigger part of something small. I'm confident we can make Twitter big!”
The move comes after Dorsey announced last week that he would be laying off more than 300 employees, or about 8% of Twitter's workforce.
He was reappointed CEO of Twitter on October 5. According to Forbes, Dorsey, 38, has an estimated net worth of $2.2 billion.
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