Parag Agrawal will reportedly get $42 million if he is Terminated after Elon Musk's Acquisition

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Parag Agrawal will reportedly get $42 million if he is Terminated after Elon Musk's Acquisition
26 Apr 2022
6 min read

News Synopsis

The World’s Richest Man, Elon Musk has recently acquired the popular microblogging platform Twitter after the board of the social media company accepted Musk’s offer. According to the reports, Elon Musk acquired Twitter for around $44 billion. Musk had been against the board ever since he made the offer to acquire the US-based social media company. In the US Securities and Exchange Commission (SEC) filing, Tesla’s CEO had said that he doesn’t have confidence in the management and threatened to pay $0 in salary to the board members if acquires the company. The current Chief Executive Officer of Twitter, Parag Agrawal, is likely to be terminated after the acquisition of the social media giant by Elon Musk.

According to research firm Equilar, Agrawal will receive around $42 million if he is terminated within 12 months of a change in control. The research firm has included Agrawal’s base salary for a year and the accelerated vesting of all equity awards. This is calculated based on Musk’s $54.20 per share offer and the company’s recent proxy statements. However, as of now, Elon Musk has not revealed his plans for the company, but we expect the Tesla cofounder to make major changes to the platform.

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