Billionaire Elon Musk bought Twitter and immediately fired executives from the company. They will receive severance pay in the amount of 122 million dollars.
Twitter’s three top executives will receive severance payments totaling about $122 million, research firm Equilar said.
Musk fired Parag Agrawal, Twitter’s chief executive, as well as chief financial officer Ned Segal and head of legal affairs and policy Vijaya Gade. He accused them of misleading him and other investors about the number of fake profiles on this platform.
In response to a question from Reuters, research firm Equilar estimated that Agrawal will receive $57.4 million, Segal $44.5 million, while $20 million will end up going to Gade.
Twitter did not comment on this analysis.
In addition to these payouts, the three executives will receive a total of $65 million from Musk in exchange for their shares in the company.
The payout also includes 100 percent of annual salary, health care premiums, plus a quick download bonus. According to Equilar, the fired executives should receive these payouts unless Musk had a good reason for terminating the contract. The reason for this in such cases is usually because a law or company policy has been violated.