Tuesday, December 6, 2022
HomeTechnologyElon Musk fires Parag Agrawal: This is how a lot severance ‘ex-Twitter...

Elon Musk fires Parag Agrawal: This is how a lot severance ‘ex-Twitter chief’ will get

Elon Musk is Twitter Inc’s new proprietor and stories recommend that quickly after taking up, he fired the highest brass of the corporate. The executives on Musk’s ‘hit checklist’ embrace CEO Parag Agrawal, CFO Ned Segal and authorized affairs and coverage chief Vijaya Gadde. The acquisition is stuffed with twists and turns and includes a sum of $44 billion. Nonetheless, these should not the one numbers which can be related to the deal. Stories recommend that Agrawal will achieve hundreds of thousands in a severance package deal.
As per a number of stories, Agrawal will get all of his 100% unvested fairness awards. As per analysis carried out by Equilar, a data-driven resolution supplier for companies, these awards will quantity to roughly $42 million. The severance shall be given if the corporate fires him inside 12 months of taking the highest position. Agrawal was appointed because the Twitter CEO in November 2021.
Aside from spending $44 billion in buying the microblogging web site, Elon took an additional hit. The brand new Twitter boss has misplaced almost $33 billion in valuation.

Musk, who additionally ‘owns’ a number of extra corporations, walked into Twitter’s headquarters earlier this week with an enormous grin and carrying a porcelain sink. He tweeted “let that sink in” and altered his description in his Twitter profile to “Chief Twit”, suggesting that he’s prepared to accumulate the corporate.

Just some hours after this drama, Musk addressed advertisers in a letter assuring them the platform will “not turn into a free-for-all hellscape, the place something might be mentioned with no penalties!”
Musk refuted the concept of shopping for Twitter “to make more cash” and mentioned, “The rationale I acquired Twitter is as a result of it is very important the way forward for civilization to have a standard digital city sq., the place a large Age of beliefs might be debated in a wholesome method, with out resorting to violence. There’s at the moment nice hazard that social media will splinter into far proper wing and much left wing echo chambers that generate extra hate and divide our society.”

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