Parag Agarwal Likely to get $42 Billion Following Exit
As per media reports, former Twitter CEO Parag Agarwal who was fired by Elon Musk after the takeover on Thursday will not be leaving empty handed. The senior executive will get all of his 100 per cent unvested equity awards, reports mentioned. This meanz that he will make an estimated $42 million (Rs 3,457,145,328). The estimate includes a year’s worth of Parag’s base salary plus accelerated vesting of all equity awards
According to reports, being the CEO, Agarwal’s total compensation was $30.4 million and he was reportedly paid $1 million a year for his position. Parag joined Twitter in 2011, and since October 2017, he started working as the chief technology officer, where he was in charge of the firm’s technical strategy. After Twitter’s co-founder Jack Dorsey left his position in November 2021, he took his position.
Elon Musk has completed the deal and has taken over Twitter late on Thursday. In one of his first actions as the owner of the micro-blogging site, he sacked top executives including the chief executive Parag Agrawal and Vijaya Gadde who was Twitter’s legal, public policy, and trust and safety lead.
Agrawal was the one who pursued the deal and its follow-up after Musk’s plans to back out. He was also at the centre of the allegations made against Twitter, by Musk claiming that the platform is hiding the number of bot accounts.