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Jack Dorsey's Big Monday

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Jack Dorsey's Big Monday
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Square Inc (SQ) President, CEO & Chairman Jack Dorsey Sold $6.6 million of Shares (GuruFocus)

It wasn't just a Big Monday on the basketball court.

Twitter Inc (NYSE: TWTR) and Square Inc (NYSE: SQ) CEO Jack Dorsey got off to a good start this week when both stocks were two of the top performers in the tech sector. Square's stock rallied 9.6 percent Monday, while Twitter shares jumped 5 percent.

As of April 2017, Dorsey owned about 16 million shares of Twitter, meaning Dorsey made more than $25.2 million on Twitter’s move Monday. That’s certainly not a bad day of work by any measure, but it pales in comparison to how well his Square holdings performed.

As of late 2017, SEC filings show Dorsey owned more than 63 million shares of Square, meaning his stake increased in value by $277.6 million Monday. Combined, the Twitter and Square stakes gained more than $302 million in a single day.

What's Next

Square and Twitter have both been on fire so far in 2018, and so has Dorsey’s portfolio. Square stock is up 40 percent year-to-date, while Twitter has jumped 42 percent. That means Dorsey’s Twitter stake has gained $159.8 million on paper so far this year and his Square stake has gained an incredible $946.8 million. All together, Dorsey’s Square and Twitter holdings have increased in value by more than $1.1 billion so far in 2018.

Twitter and Square are both trading at their highest levels since the Square IPO in late 2015.

Related Links:

Twitter Soars After Surprise Q4 Earnings Beat 

Analysts Break Down Square Following Q4 Earnings

Image credit: Brian Sollis, Flickr

Posted-In: Jack DorseyNews Management Top Stories Movers Trading Ideas Best of Benzinga

 

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