Lagatar24 desk
New Delhi, Oct 28: Parag Agrawal is expected to get an estimated $42 million (Rs 3,457,145,328) from Twitter following his exit from the company by Elon Musk.
As one of his first steps, Twitter’s new owner, billionaire Elon Musk, sacked the senior executives. CEO Parag Agrawal, who was chosen for the position by company co-founder Jack Dorsey in November of last year, is among those departing.
Along with the CEO of Indian descent, Musk also let go of two other senior executives and Twitter’s head of legal, policy, and trust, Vijaya Gadde. According to a report by the New York Times, Musk completed the $44 billion purchase of Twitter on Thursday.
According to the news agency Reuters, Equilar’s estimate includes accelerated vesting of all equity awards as well as a year’s worth of Agrawal’s base income. The estimate was based on Musk’s $54.20 per share offering price.
Agrawal, who served as Twitter’s previous CTO, was appointed CEO in November of the previous year. According to a Reuters article, his total remuneration for 2021 was $30.4 million, the majority of which came through stock awards.
Agrawal, an IIT Bombay and Stanford alum, joined Twitter more than ten years ago when there were fewer than one thousand people working there.
