Musk-Twitter deal: CEO Parag Agrawal could receive $42 million if terminated from Twitter after Musk said to eliminate the Twitter board because he said he does not have confidence in Twitter’s management.

Highlights

Musk’s deal with Twitter to buy the platform ends its run as a public company
Twitter CEO Parag Agrawal could earn $42 million (Rs 320 crore)
Twitter’s CEO will get $42 million if he were to be terminated within 12 months

Also Read: 'Board salary will be $0 if my bid succeeds,' says Elon Musk on Twitter

A few days ago, billionaire investor Elon Musk revealed his shareholdings in Twitter Company and claimed to be the highest with 9.2 %, and after a few days, he offered $43 billion to but the Twitter.

Twitter’s board of members denied its offer of Musk and also filed a suit against Musk for not disclosing his stake in Company after increasing 5% within 10 days of crossing the 5% in the company’s stake.

Elon Musk also said he didn’t have confidence in Twitter’s management. Earlier Musk said to give $0 to twitter’s Board members as a salary.

In a disputed bid between Twitter and Musk, Parag Agrawal, CEO of Twitter would get an estimated $42 million (Rs. 320 crores) if he were terminated within 12 months of a change in control at the social media company. According to research firm Equilar.

Elon Musk, on Monday, struck a deal to buy Twitter for $44 billion (Rs. 3, 36, 400 crore) Twitter is ending its run as a public company since 2013.

Musk in his securities filing on April 14 had since he did not have confidence in Twitter’s management.

Twitter denied commenting on Equilar’s report.

Also Read: Suit Filed Against Elon Musk by Twitter Shareholder Over Delay in Disclosing Stake