Parag Agrawal
Parag Agrawal likely to exit Twitter with $ 50 million as Elon Musk takes the reins
Twitter CEO Parag Agrawal, who was fired along with two other top officials of the microblogging site by the company's new owner Elon Musk, is eligible to receive roughly $50 million, a Bloomberg report said.
The other two -- Chief Financial Officer Ned Segal and Vijaya Gadde, head of legal, policy and trust -- are estimated to collect about $37 million and $17 million each, respectively.
Agrawal and other top bosses of the company were entitled to severance equal to a year's salary and cash-outs of unvested equity awards if Twitter was bought and they lost their jobs in the process, according to the terms of the company's severance policy, the report said.
Agrawal, 38, had been at Twitter for almost a decade.
His total compensation for 2021 was $30.4 million - largely in stock awards - after he was handed the top position following Jack Dorsey's resignation last November.
According to media reports, Agrawal had repeatedly clashed with Musk over the number of users Twitter has.
Also, Agrawal had held firm that the company sees through Musk's acquisition at $54.20 per share even though the Tesla Inc. co-founder said he didn't have confidence in management, according to Bloomberg.
Support Our Journalism
We cannot do without you.. your contribution supports unbiased journalism
IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.
