Recently, the world’s richest man and Tesla boss, Elon Musk acquired Twitter for approximately $44 billion. The deal is one of the biggest deals in the tech world till date. Once the transaction will be completed, Twitter will be converted into a privately held company.
Musk’s major reason behind acquiring Twitter was, that he thinks Twitter doesn’t provide freedom to speak to its users. Now, here the question arises, will Parag Agarwal continue as the CEO of Twitter or not?
As per Musk’s statement about being unhappy and against Twitter’s management, he could probably change or shuffle Twitter’s management.
What if Parag Agarwal gets terminated?
As for now, there is no confirmation or comments over this from the Tesla boss. However, in case Elon Musk terminates CEO Parag Agarwal, the billionaire will have to pay him around $42 million.
As reported by research firm Equilar, if Parag gets terminated within 12 months of a change in control at the company, he will get approximately $42 million. This includes accelerated vesting of all equity awards and a year’s worth of Agarwal’s base salary, said the spokesperson of Equilar.
Also to be noted, a Twitter representative denied commenting on these estimates by Equilar’s spokesperson.
Jack Dorsey supports Musk’s Twitter deal
Co-founder and former CEO of Twitter, Jack Dorsey is already supporting Musk. He believes that Musk acquiring Twitter is the best decision for the platform. He also thanked Parag Agarwal and Elon Musk for getting Twitter out of an impossible situation.
In one of the tweets, Dorsey wrote that Elon is the singular solution he trusts.
Parag Agarwal was appointed as the CEO of Twitter in 2021, just after co-founder Jack Dorsey resigned from the position. Agarwal has also served as Chief executive officer (CTO) of Twitter and his total compensation for the year 2021 was near about $30.4 million.
