Twitter CEO Parag Agrawal fired by Elon Musk

 

After acquiring Twitter, the world’s richest man, Elon Musk fired Parag Agrawal. He acquired Twitter after a legal battle and months-long saga full of twists and turns.

Tesla's CEO fired various other employees of Twitter. He fired top Twitter executives, including the CEO Parag Agrawal, the company’s legal head and policy maker Vijaya Gadde, and CFO Nel Segal.

However, Agrawal will take home a lot of money. He was appointed as the Twitter CEO in November 2021. As per reports, Agrawal was entitled to get $42 million from Twitter if he were terminated within 12 months.

Vijaya Gadde will also receive a package of $12.5 million and an additional $33 million from some 623,156 Twitter shares.

Earlier, many people said that Musk disliked Agarwal and wanted to get rid of him. In some of his leaked chats, Musk mocked Agrawal for holidaying in Hawaii. He said that Agrawal was not the kind of man who could run Twitter.

Before making a hostile bid to buy Twitter, Musk had also exchanged a couple of chats with Agrawal. In one of his leaked texts to Agrawal, the world’s richest man had called joining the Twitter board a "waste of time.”

Musk made a bid to buy the social media company for $44 billion in April this year. However, he tried to walk away from the deal in May alleging that the social media giant understated the number of bot and spam accounts on the micro-blogging site. Later on, Twitter sued Musk to complete his deal. Consequently, a legal battle between Twitter and Musk started. Musk also sued Twitter, alleging that there were numerous fake accounts on the micro-blogging site. After a series of twists and turns, Musk agreed to proceed with the Twitter deal on the original terms. On October 27, he finally bought the social media platform.