topStoriesenglish2529995

Twitter takeover BIG update: Elon Musk have to pay THIS much amount to Parag Agrawal

According to the SEC filings, Agrawal is most likely to receive the highest payout of all the former Twitter executives, reports ANI.

Twitter takeover BIG update: Elon Musk have to pay THIS much amount to Parag Agrawal

New Delhi: Elon Musk took control of the microblogging platform Twitter on October 27 and sacked some of the senior executives, including Parag Agrawal, the CEO, and Vijaya Gadde, the director of legal affairs. Although it may appear like Parag Agrawal was on the losing end of the Twitter argument, new reports suggest otherwise. The amount of Parag Agrawal's compensation was disclosed in the company's SEC filings.

These facts coincide with rumours that Musk is attempting to avoid paying out a sizable sum to former Twitter executives. According to earlier reports, Musk fired the executives "for cause," which would offer him a chance to avoid making the payment. (Also Read: Short of funds? LIC is offering personal loans at low-interest rates compared to banks: check EMI calculator, loan terms & more)

According to the SEC filings, reports ANI, Agrawal is most likely to receive the highest payout of all the former Twitter executives. Segal and Gedde are rumoured to receive pay packages of $44.5 million and $20 million, respectively, while he is anticipated to receive a salary of $57.4 million (about Rs 475 crore). (Also Read: Mi clearance sale 2022: Get THESE Redmi phones at half price, check top deals here)

Further information reveals that each of the three CEOs will also receive compensation from their firm stock holdings. They have 1.2 million shares in total. Musk will be required to pay the agreed-upon price of $54.20 for these shares. According to the report, Agrawal would receive $8.4 million, Segal $22 million, and Gadde $34.8 million from these payments.

Even for Musk, the hundreds of millions of dollars in total payout to the three could put serious damage to his finances. The total estimated payments amount to $122 million, or nearly Rs 1,009 crore.

Live Tv

Trending news