![]() Musk believed that Agrawal was not the kind of man who could run Twitter. A filing with the US Securities and Exchange Commission confirms that Elon Musk has taken over Twitter, and its shares have been taken off the New York stock exchange. In some of his leaked chats, Musk berated Agrawal and even mocked him for holidaying in Hawaii. Why the Twitter stock dropped 18: The company’s lockup terms Ingrid Pan at 1:29 PM Yet another reason why Twitter stock keeps dropping (Part 2 of 3) ( Continued from Part 1). It was certain that Musk would fire Parag Agrawal as soon as he took over. The breach, which Twitter said was carried out after hackers. Musk's hate-hate relationship with Parag Agrawal Shares of Twitter dropped by more than 4 in premarket trading Thursday, wiping out as much as 1.3 billion in market value. Musk found the Twitter management incompetent and his leaked chats were testimony to the fact that he disliked Agarwal and wanted to get rid of him as soon as he acquired him. He had joined Twitter when it was at a nascent stage with less than 1000 employees at the helm.Īgarwal’s termination was predicted when the talks about Musk acquiring Twitter first came to shore. ![]() With Agrawal’s termination, his decade-long association with the company also ended. The social media veteran posted disappointing third-quarter results late last month. In the month that followed the incident, the stock price fell 5 percent. His total compensation for 2021 was $30.4 million, which was paid to him in stock awards. Shares of Twitter ( TWTR) fell 27.3 in October 2019, according to data from S&P Global Market Intelligence. They had come ten minutes early for a business meeting to discuss a real estate. On early Monday, the company’s stock price dropped more than 10indicating that investors are nervous about the company’s future without the Tweeter-in-Chief. Ben & Jerrys, which was acquired by Unilever but whose. The estimate was also based on the price Musk offered, $54.20 per share and terms in the company's proxy statement.Īgrawal was elevated as the CEO of Twitter in November last year when former CEO Jack Dorsey stepped down from his role. The result has seen its market cap drop to 128.5 billion from 130.2 billion on Monday. ![]() The research firm Equilar estimated Agrawal's base salary for a year along with the "accelerated vesting of all equity awards," the company spokesperson told Reuters in a statement. Combined, it is safe to say that Parag Agrawal is likely to get around $50 million, whereas Gadde may get around $45 million to start with.
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