Musk Twitter Deal: The command of the social media platform Twitter has now gone into the hands of the world’s richest man, Elon Musk.
Musk has bought Twitter for $44 billion. As soon as the new owner came, many major changes were made in the company, which are in discussions today.
The biggest decision among them is the removal of Parag Agrawal, the CEO of Twitter’s Indian origin. After removing Agarwal, Musk tweeted: “The bird is free.”
Parag Aggarwal has been fired as soon as Musk’s Twitter deal is complete.
However, it has also been learned that Parag Agarwal will not leave Twitter empty handed. According to the news agency Reuters, Parag Agarwal will get about $ 42 million, or about Rs 346 crore, from the company.
Also know the reason why Parag Agarwal will get such a huge amount. In fact, whenever a person becomes the CEO of a big company, he is also given some shares of the company in addition to the salary.
In such a situation, if for any reason the company removes that person, like Musk has fired Agarwal, then all his shareholding will have to be paid by the company.
The New York Times said in its news that Musk executed a $ 44 billion deal to buy Twitter on Thursday. Musk has removed Agarwal as well as Twitter’s top legal affairs official Vijaya Gadde.
The report, citing people familiar with the matter, said that Musk has started a ‘cleanup campaign’ of Twitter and it started by firing at least four executives.
According to the news, the Twitter executives who have been removed include Aggarwal and Gadde, besides Chief Financial Officer (CFO) Ned Segal and General Counsel Sean Agate.
CNN said that with the completion of this deal, the doubts that had so far remained between Twitter’s business, its employees and shareholders have also been removed.
Parag Agarwal, 38, was appointed as the CEO of Twitter in November last year following the resignation of the company’s cofounder Jack Dorsey.
Aggarwal, who studied at IIT Bombay and Stanford University, started his job at Twitter more than a decade ago. At that time the company used to have less than 1,000 employees.
There was an altercation between Musk and Agarwal!
According to the NYT news, “Agarwal, who was appointed CEO of Twitter last year, had a spat with Musk, both publicly and privately. Musk also publicly criticized Gadde’s role in decisions regarding ‘content moderation’. Content moderation is the process of monitoring and trimming online content.
Twitter cofounder Biz Stone thanked the executives, tweeting: “Thank you Parag, Vijaya and Ned Segal for your contribution to Twitter. You’re so talented, you’re a wonderful human being too.”