The all-male directorship at Twitter is rewarding itself handsomely for running a business that makes no money, Footnoted reports. The salary for attending board meetings, while your company bleeds money? Now up to $16 million per year.

These are people who, by traditional business metrics of "earning money" and "doing things that don't lose tens of millions of dollars," aren't terribly deserving of a raise. But an update to Twitter's pre-IPO documentation shows deserve ain't got nothin' to do with it:


The disclosure sets the value of initial stock grants for Twitter's five outside board members at a minimum of up to $16 million each, double what the company had initially planned, though that number too was new to yesterday's amended filing.

[...]

Just to put this into perspective, we went back and skimmed the pre-IPO filings for both Google and Facebook to see what those directors got: two of Facebook's directors received around $600K worth of stock each, which isn't even close.

We're sort of running out of ways to say this, but let's say it once more: the leadership of a company that is very far from turning a profit is rewarding itself with tens of millions of dollars in stock grants.

(Photo of Drake with a bunch of money because it's his birthday, via Hollywire, happy birthday Drake.)