Elon Musk terminates offer to buy Twitter…🤣

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SlugSlinger

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There’s a fog of confusion around the widely watched social-media takeover, but Musk changed his bio to “chief Twit” earlier this week and filmed himself walking into Twitter’s San Francisco headquarters literally carrying a sink. On Friday morning, Twitter notified the New York Stock Exchange that its shares would no longer be listed, implying that the world’s richest man really has taken it over at last.

Musk has yet to publicly confirm a bloodbath in the Twitter C-suite, but multiple outlets reported Thursday that CEO Parag Agrawal, CFO Ned Segal, and head of legal, policy, and trust Vijaya Gadde were immediately terminated, and at least one of them was personally escorted from headquarters.

But each of those executives is set to walk away with a hefty severance package.

Among the three of them, Agrawal, Segal, and Gadde are entitled to a base severance of nearly $122 million, research firm Equilar, which specializes in executive compensation, told Fortune.

According to a Twitter regulatory filing from May, termination compensation for executives is determined by base salaries, equity in the company, and health care premiums.

Twitter did not immediately respond to Fortune’s request for comment on the executives’ departure or their severance packages.

Executive departures

Musk taking over is likely bittersweet for the former executives who have repeatedly clashed with Twitter’s brand-new owner in recent months.

Former CEO Parag Agrawal is entitled to the biggest payout, worth $57.4 million, according to Equilar. After he initially welcomed Musk’s interest in joining the company’s board, Agrawal’s relationship with Musk soured once the latter revealed his intentions to buy Twitter in April, as detailed by a series of texts between the two disclosed in court in September, shortly before Musk dropped his lawsuit in which he was trying to get out of buying Twitter altogether.

The exchanges revealed that Agrawal had repeatedly voiced concerns to Musk over his questioning of the company’s leadership, saying he was damaging the company’s image.

“What did you get done this week?” Musk eventually answered Agrawal. “I’m not joining the board. This is a waste of time. Will make an offer to take Twitter private.”

The relationship between the two spiraled once the long takeover process began. At one point, Musk replied using a poop emojito a series of tweets by Agrawal on the state of Twitter’s spam accounts.

While Agrawal is expected to leave Twitter with the largest payout, his former colleagues won’t be collecting chump change. CFO Segal departs the company with $44.5 million, according to Equilar, while legal chief Gadde is taking home $20 million.

Gadde has also been the recipient of Musk criticism during the takeover process. In April, Musk criticized Gadde on Twitter for her content moderation policies, referring to a 2020 incident when Twitter blocked the New York Post’s Twitter account in response to a report regarding Joe Biden’s son Hunter and his business dealings in Ukraine.

Musk’s takeover of the company reportedly left Gadde in tears, according to a Politicoreport in April citing inside sources who said Gadde had expressed significant uncertainties about the direction Twitter would take under Musk.
 

jakeman

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While Agrawal is expected to leave Twitter with the largest payout, his former colleagues won’t be collecting chump change. CFO Segal departs the company with $44.5 million, according to Equilar, while legal chief Gadde is taking home $20 million.
Yeah, no sympathy for these yahoos. Them losing their job is not like some working stiff getting escorted out of the building at his $50,000 - $100,000 a year job with 15 years of personal **** in a cardboard box. I've seen that. This isn't the same.
Musk’s takeover of the company reportedly left Gadde in tears, according to a Politicoreport in April citing inside sources who said Gadde had expressed significant uncertainties about the direction Twitter would take under Musk.
Good. Couldn't have happened to a more deserving person.
 

Raido Free America

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Elon Musk carried a sink into Twitter on Wednesday as deal nears close​

Elon Musk arrives at the In America: An Anthology of Fashion themed Met Gala at the Metropolitan Museum of Art in New York City, New York, May 2, 2022.





With just a few more days left to complete his acquisition of Twitter and stave off a new court date, billionaire Elon Musk walked into the company’s San Francisco office on Wednesday with what appeared to be a porcelain bathroom sink in his hands.
“Entering Twitter HQ – let that sink in!” the Tesla and SpaceX CEO tweeted with a video of his entrance.
It's on the internet that he completed the deal last night, and has already fired the top people? He couldn't be any worse than what they have now, the propaganda arm of the Democratic Party, or WHOM EVER IS ACTUALLLY IN CHARGE OF THIS PUPPET REGIME, I FOR ONE SUSPECT IT'S COMMUNIST CHINA!!
 

Snattlerake

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Elon is now the Chief Twit as opposed to Biden being the Twit in Chief and if Biden dies we will then have a Twaat in Chief. If that happens, the Twaat in Chief will select a new Vice Twit or Twaat but can only take office upon confirmation by a majority vote of both Houses of Congress which of course are the ultimate, most absolute twits and twaats of all time.
 

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