The three top Twitter executives whom Elon Musk fired Thursday will walk out the door with about $187 million of Musk’s money
. Former CEO Parag Agrawal, former CFO Ned Segal and former Chief Legal Officer Vijaya Gadde were ousted after Musk took control of the company late Thursday, according to a source familiar with the situation. They would have received a large chunk of that money even if they had stayed on board under the new ownership – they and other shareholders will receive payouts from Musk after he bought their shares for $54.20 each.
But they also receive “Golden Parachute Compensation” in the merger agreement approved by shareholders. That includes a year’s base pay – $1 million for Agrawal and $600,000 each for Segal and Gadde. They also will get a year of health insurance, worth about $73,000 among the three. The most lucrative part by far is the accelerated vesting of stock they stood to receive in the future but had not yet qualified for. That will end up being worth $56.4 million for Agrawal, $43.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
GM Halts Advertising On Twitter As Tesla's Elon Musk Takes Over | CarscoopsThe automaker is the first to suspend its advertising in light of a change at the helm of Twitter
Read more »
It’s Doomsday for Twitter Staff as Elon Musk Takes the ReinsAfter months of agonizing uncertainty, Twitter employees are bracing for what’s next.
Read more »
Trump: Twitter 'is now in sane hands' after Elon Musk takeoverTrump's reaction comes after Elon Musk purged a number of Twitter execs Thursday night.
Read more »
Kanye West appears to be unsuspended on Twitter after Elon Musk takeoverThe “Gold Digger” rapper’s Twitter profile initially got suspended earlier this month after he wrote he wanted to “go death con 3 ON JEWISH PEOPLE.”
Read more »
Here are some of the best internet reactions to Elon Musk buying TwitterBillionaire CEO Elon Musk has finally bought Twitter after a long saga of back-and-forth negotiations and even a lawsuit. The internet is both excited and afraid, and people are expressing their opinions in all kinds of ways.
Read more »
Elon Musk Buys Twitter, Fires CEO and CFOElon Musk completed his takeover of Twitter and fired Chief Executive Parag Agrawal and Chief Financial Officer Ned Segal, according to people familiar with the matter.
Read more »