Twitter CEO Jack Dorsey on Friday morning announced that he is giving roughly one-third of his Twitter stock to the company’s employees equity pool – the amount totals $200 million.
He tweeted, “I’m giving ~1/3rd of my Twitter stock (exactly 1% of the company) to our employee equity pool to reinvest directly in our people.”
Jack Dorsey added, “As for me: 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!” in another tweet.
In his second public appearance since being named Twitter Inc’s permanent chief executive earlier this month, Jack Dorsey on Wednesday apologized to the developers who work with the social media company to create apps.
His admission came as he begins a turnaround effort at Twitter, which has struggled with user growth and attracting advertising dollars, while taking public his mobile payments company, Square, by the end of this year.