On Thursday, Tesla Chief Elon Musk confirmed his acquisition on Twitter after six months of public and legal squabble. The court-ordered deadline to close his $ 44 billion deal to buy Twitter. Twitter will now operate as a private company with $ 54.20 paid per share to shareholders. The Tesla chief on trolling the company he is buying said” a free for all hellscape where anything can be said with no consequences.” He clears in his statement that he is acquiring not to make money but to promote healthy debate.
Musk in his statement said, ” The reason I acquired Twitter is because it is important to the future of civilization to have a common digital town square where a wide range of beliefs can be debated in a healthy manner”.
Elon Musk Began his Ownership by Firing the CEO, Parag Agarwal
On Thursday Elon Musk became the new owner of Twitter and began his ownership by firing the Chief Executive Parag Agarwal and the Financial Chief officer and Legal Affairs and Policy Chief Vijaya Gadde. According to the people familiar with the matter, he had accused them of misleading him and Twitter Investors over the number of fake accounts on social media platforms. The New Owner is firing approximately 7500 employees
Elon Musk the CEO of both Tesla and SpaceX has now also become the CEO of Twitter made some drastic changes in the company’s operation. The company’s shares are no longer expected to trade on the New York Stock Exchange. Musk’s ownership will change the ideas of how the company has been running for years. He ensures free speech on the social network and plans to restore some high-profile accounts that were kicked off for breaking rules such as former U S President Donald Trump. Musk’s inventiveness is to reduce bullying and abuse from the Platform. Musk changed his profile descriptor on the platform from Twitter to Chief Tweet.
Parag Agarwal Age, Family, Biography, and More
Parag Agarwal the youngest CEO of Twitter is an Indian IITian was born in Kharghar Mumbai in 1981. Parag completed his B Tech in computer science engineering from Stanford University, IIT Mumbai, and his Ph.D. from the same in 2012. His nationality is American. He is appointed as the CEO after the resignation of Jack Dorsey on 29 Nov. 2021 before that he was working as the Chief Technology Officer of the company. He was designated as the CEO of Twitter with 10 years of experience in the same company. He was one of the top engineers of the Twitter group that was responsible for the new product and technologies of Twitter.
Parag Agarwal is married to Vinita Agarwal who works at Andreessen Horowitz. They have a son, Ansh.
Net Worth Of Parag Agarwal
Parag Agarwal is going to start a new journey at the age of 37 with his dismissal from the post of CEO and would receive more than $42 million as severance pay. He as the Chief Technology officer receives an annual salary of $ 1 million. In addition to it, Agarwal receives an annual performance bonus of up to 150% of his salary which represents $ 2.5 million per year. In his negotiation, he received shares worth US $12.5 million which grant him 16 quarterly increments.
According to the sources, a total of $ 88 million will be given to Twitter’s top-fired executive. The former CEO will get the largest payout of $ 38.7 million
Parag Agarwal’s current Net Worth is estimated to be $1.6 million as of 2022. The payout of Parag Agarwal is largely due to the entirety of his shares vesting upon his firing. Thus Parag Agarwal is securing his and his loved ones’ life and can start a new journey in his life.
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