Elon Musk has purchased 100% of Twitter. Now the important question is whether or not the current chief of the platform can continue his term. Elon Musk previously stated that he does not like the management at Twitter. Parag Agarwal will be the CEO if Musk ever decides to take over.
Parag Agarwal, the CEO of Twitter, will receive $42 million in stock awards over the next three years. This award is in addition to his salary and bonuses from the company. Agarwal has been with Twitter since its inception in 2006 and has led the company through a period of significant growth. He has played a leading role in developing Twitter’s products and marketing strategy.
Equilar reports that Parag Agarwal would be paid $42million if he was removed as CEO in 12 months. However, the popular microblogging website has not commented on the report. According to securities filings dated April 14, Elon Musk stated that he was unhappy with Twitter’s management. We can therefore expect the current CEO of Twitter to be replaced; however, no confirmation has been made.
Details of the agreement between Parag Agarwal and Elon Musk:
Agarwal has agreed to invest $2 billion in new Tesla factories in India, China, and Europe. Musk will provide the technology and help set up the factories. The agreement should help Tesla’s goal of producing 500,000 cars per year by 2020.
Parag Agarwal, CEO of Twitter, will receive a $42 million payout if Elon Musk terminates his employment. This comes as a result of the “Twitter Equitable Plan,” which was put into place in early 2018 to prevent executives from leaving for other companies at a high price.
Parag Agarwal, currently Twitter’s CEO, took over this role last November. Agarwal received $30.4 million in total compensation for 2021. Jack Dorsey (the Twitter Co-founder) is happy with the deal because he believes that Twitter is moving in the right direction.
He tweeted that Elon Musk believes in creating a platform that is trustworthy and “broadly inclusive”. Parag Agarwal also believed the same, which is why he was appointed CEO. Parag and Elon Musk were also thanked for helping to get the company out of an impossible situation.