Elon Musk's Twitter: Current CEO Parag Agarwal's leave in 12 months, then the company will have to pay such a huge amount
The sale of Twitter, which had been going on for several days, finally came to an end on Monday and the microblogging platform has now become the richest person in the world. Yes, Elon Musk has bought it for $ 44 billion (more than 3 lakh 37 thousand crore rupees). After this deal, now the speculation of changes in the board has intensified. According to a report, if Twitter's current CEO Parag Agarwal is fired, then the company will have to pay him a huge amount.
3.2 billion will have to be paid
According to research firm Equilar, Twitter Inc Chief Executive Officer Parag Agarwal would get about $42 million or Rs 3.2 billion if the holiday happens within 12 months of a change of control at the top level at the social media company. Parag Agarwal was the first Chief Technology Officer in the company, after which he was made the CEO of the company in November last year. The total value of his damages in 2021 was $30.4 million. However, there has been no response from Twitter regarding this.
Musk does not trust management
Discussions had raged since morning on Monday that the board was seriously reconsidering Tesla CEO Elon Musk's proposal to buy Twitter, and the decision came late last night. Elon Musk himself shared the information about the completion of this deal by tweeting. Let us tell you that on April 14, Elon Musk refused to participate in the company's board meeting, saying that he does not have confidence in the company's management.
The ruckus continued for several days.
It is worth noting that after several days of uproar, Twitter has finally become the owner of the world's richest man, Elon Musk. According to Musk's offer, he will have to pay $ 54.20 (Rs 4148) for every share of Twitter. Twitter's independent board chairman Brett Taylor gave information about the deal with Musk in a press release after 12 p.m. on Monday. The deal has given the Tesla CEO ownership of the company with 217 million users.
Five-year-old Musk's tweet goes viral
Twitter plays an influential role in shaping the political and media agenda on both sides of the Atlantic. Twitter's initial reluctance to acknowledge the transaction faded when Musk confirmed a funding package for the deal and was warmly received by shareholders. Let us inform here that amidst the news of Musk's ownership on Twitter Inc., Musk's five-year-old tweet is also going viral. When he said that I like Twitter a lot and then asked the price of the platform.
Musk wants to improve Twitter
Elon Musk said in a statement announcing the deal, "Freedom of speech is the cornerstone of a functioning democracy, and Twitter is the digital town square where matters important to the future of humanity are debated. I am adding new features to the product." I want to make Twitter better than ever by expanding it, making its algorithms open source to build trust, beat spam bots, and authenticate all humans." "Twitter has tremendous potential. I look forward to working with the company and its community of users," he said.
Tremendous jump in twitter shares
According to the report, after the news of talks between the two sides on Sunday, the discussion had intensified that a big decision could be taken on it in a few moments. The Twitter board was expecting more good offers from Musk. Twitter shares rose on Monday amid news of the completion of the deal and closed at $51.60, up 5.5 per cent. But that was still below Musk's offer price.
Demand for making Jack Dorsey as CEO
After Elon Musk's purchase of Twitter, there is a demand on social media to bring back Twitter co-founder and former CEO Jack Dorsey. Meanwhile, there has also been a reaction from Jack on this deal. He has said that if anyone can make the company's dream come true, then it is Elon Musk. Along with this, Jack said that Idea and Service have always been two important sectors for me and I am always ready for them.