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While free speech advocates celebrate the recent purchase of Twitter by eccentric billionaire Elon Musk, Twitter’s top execs may also be in a festive mode over the pricey power shift.
According to The Hollywood Reporter, Twitter chief Jack Dorsey and succeeding CEO Parag Agrawal are expected to receive payouts north of $900 million and $38 million, respectively, due to Musk’s $44 billion purchase of the social media company.
Which, knowing Musk, will probably be paid out in pennies.
Should either exec be terminated as a result of Musk’s new regime, Dorsey could reportedly receive $978 million, and Agrawal could pocket a $38.7 million payout.
Musk bought the company at a per-share price of $54.20.
After temporarily becoming Twitter’s majority stakeholder and facing pushback from the company for attempting to recalibrate its stance on free speech, Musk made a tender offer to buy the entire company with intentions to go private.
Musk’s philosophy behind reestablishing Twitter as the premier marketplace of ideas has previously butted heads with CEO Parag Agrawal.
On Monday, Agrawal responded to the purchase with the same enthusiasm as a resignation letter.
Follow along on Twitter: @AlejandroAveela
One CommentLeave a Reply
I’d give them a pinecone up the ass.