Musk takeover: CEO, Parag Agrawal, to earn $42m after sack from Twitter

The company’s CEO, Parag Agrawal, was fired as a result of Elon Musk’s ultimate acquisition of Twitter. Musk is the richest man in the world.

As a software engineer who joined Twitter in 2011, Agrawal advanced to the position of Chief Executive in November 2021, following Jack Dorsey’s resignation as CEO.
It was suggested six months ago that Agrawal would lose his job at Twitter since Musk has frequently questioned the management’s ability to run the social media platform.

Agrawal will now receive nearly $42 million in salary for being fired after over a year in the CEO position. Musk is rumoured to be taking over since he changed the title of his Twitter account to “Chief Twit.”

Also, the head of legal policy, trust, and safety at Twitter, Vijaya Gadde, was fired, after months of speculations that she will also exit the firm if Musk takes over.

There have been reports that Gadde’s ideologies are in contrast to that of Musk, as the former is described as a top censorship advocate, but the latter believes no one should be gagged.

In April, Musk had stated, “Suspending the Twitter account of a major news organization for publishing a truthful story was obviously incredibly inappropriate.”

This was in response to a tweet that Gadde played a role in the restriction of NYPost’s account and reach over a story on Joe Biden’s son. She was also said to be unhappy with Musk’s decision to buy Twitter.

Another top executive affected by Musk’s takeover is the social media company’s Chief Finance, Ned Segal.

it was reported that Musk agreed to acquire Twitter for $44 billion after previously backing out of the contractual agreement to buy the firm.

Musk was given until October 28, 2022, to acquire Twitter as previously agreed or face trial in the Delaware Chancery Court in the United States.