Elon Musk sacked three of the top Twitter executives on Thursday, and they will leave with around $187 million of Musk’s money.
According to a person familiar with the issue, the company’s previous chief executive officer Parag Agrawal, chief financial officer Ned Segal, and chief legal officer Vijaya Gadde were fired when Musk assumed control of it late on Thursday.
They and other shareholders will get dividends from Musk after he acquired their shares for $54.20 apiece. Even if they had stayed on board under the new ownership, they would have gotten a significant portion of that money.
Ned Segal, Parag Agrawal, and Vijaya Gadde, who were fired from Twitter, departed the firm with $187 million of Elon Musk’s money.
The smallest stock position of the three belonged to Agrawal, who just took on the role of CEO a little less than a year ago. He had 155,000 shares, which were valued $8.4 million when Musk bought them. For his 406,000 shares, Segal will receive $22 million, while Gadde will receive $34.8 million for her 642,000 shares.
But according to the merger deal endorsed by shareholders, they also get “Golden Parachute Compensation.” Included in that is Agrawal’s annual base salary of $1 million and Segal’s and Gadde’s base salaries of $600,000 apiece. They will also receive a year of health insurance, which will cost them all together roughly $73,000.
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