Parag Agrawal likely to exit Twitter with $ 50 million as Elon Musk takes the reins

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By  India Blooms News Service   Oct 28, 2022

Twitter CEO Parag Agrawal, who was fired along with two other top officials of the microblogging site by the companys new owner Elon Musk, is eligible to receive roughly $50 million, a Bloomberg report said.

The other two -- Chief Financial Officer Ned Segal and Vijaya Gadde, head of legal, policy and trust -- are estimated to collect about $37 million and $17 million each, respectively.

Agrawal and other top bosses of the company were entitled to severance equal to a years salary and cash-outs of unvested equity awards if Twitter was bought and they lost their jobs in the process, according to the terms of the companys severance policy, the report said.

Agrawal, 38, had been at Twitter for almost a decade.

His total compensation for 2021 was $30.4 million - largely in stock awards - after he was handed the top position following Jack Dorseys resignation last November.

According to media reports, Agrawal had repeatedly clashed with Musk over the number of users Twitter has.

Also, Agrawal had held firm that the company sees through Musks acquisition at $54.20 per share even though the Tesla Inc. co-founder said he didnt have confidence in management, according to Bloomberg.