The bird is freed?
Elon made his decision pretty clear of buying Twitter. He wants "to help humanity" and refuses the idea of buying Twitter “to make more money” :P
Money can't buy you happiness… but it surely can buy you Twitter. Not only Twitter, but the whole social media platform is currently revolving around the newly self-proclaimed “Chief Twit”, who finally bought Twitter for $44 billion.
While Elon just being Elon, he fired the CEO, Parag Agarwal, and a few other top Twitter executives on Day 1 that included policymaker Vijaya Gadde and CFO Nel Segal.
Meanwhile, Parag will receive $42 million for being fired from Twitter.
But one second, why $42 Mn?
It’s because of the Golden Parachute Policy in his contract with Twitter. Since Parag was terminated within 12 months due to a change in control (he didn’t quitted), he’ll receive a year's worth of base salary plus accelerated vesting of all equity shares as per the sources.
Basically, a golden parachute is a contractual agreement between an organization and a high-ranking executive that defines the benefits they will receive if fired in case of hostile takeovers.
But it is not just Agarwal alone. Vijaya Gadde (who made the decision to ban Donald Trump) is set to get a severance package worth $12.5 million that includes Twitter shares.
But why did Elon Musk fire Twitter executives first?
We all know that Elon has accused the ex-CEO of misleading him and Twitter investors over the number of fake/bot account on the social media platform.
And not only this, but Elon had also openly expressed his dissatisfaction with the management of Twitter, which included Agrawal and Vijay Gadde.
In a few of the trending leaked chats between Musk and former Twitter CEO Jack Dorsey, it showed how he and Agrawal won’t gel together.
What can be the reason behind Elon buying Twitter?
Elon made his decision pretty clear of buying Twitter. He wants "to help humanity" and refuses the idea of buying Twitter “to make more money”.
Reminds me of apple removing the charger and earphones from the box for “Environmental Causes”.
Musk also stated that Twitter aspires to be the most respected advertising platform in the world. So perhaps he really wants to improve the future of Twitter into a better platform.
Btw in between all this, is anyone waiting for Elon Musk to restore Donald Trump and Kangana Ranawat’s Twitter after the takeover?
Jokes apart, what are your opinions about Elon Musk buying Twitter? Do you think the bird is actually free?
#twitter #ceo #management #takeover #elonmusk