It appears as if the first thing Elon Musk did after taking over Twitter was to fire Indian origin CEO Parag Agrawal along with three other executives including legal executive Vijaya Gadde. News reports claim that it was Vijaya Gadde who made the decision to permanently suspend Donald Trump. As for Parag, many claim that it was quite obvious that Musk would fire him after taking over Twitter and that he has done his job “brilliantly" to help Twitter secure the best deal. In fact, Musk himself admitted earlier this month that he is overpaying to buy Twitter.
On the other hand, Musk said, “the bird is free" with the obvious reference to free speech. Many are tweeting saying that Musk did a good job by firing Agrawal and Gadde as they are claimed to be responsible for preventing free speech on Twitter.
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Now, the internet gossip is clearly divided. On one side, people are celebrating how “smartly" Agrawal managed to prevent Musk from reducing the Twitter deal price and how the CEO is leaving the company richer– with $42 million in his bank. On the other side, people are celebrating Elon Musk, for firing Agrawal and expecting him to bring about a change in how Twitter operates providing equal opportunity for everybody to voice their opinions.
Earlier this month, according to a report by Reuters, Musk said, “Myself and the other investors are obviously overpaying for Twitter right now. The long term potential for Twitter in my view is an order of magnitude greater than its current value."
Soon after the news of the Indian origin CEO getting fired by Elon Musk spread, people expressed their opinions to highlight how Parag did not allow Musk to tweak the deal and undervalue Twitter.
Despite all the drama, taunts, legal cases and Musk’s PR tricks, the world’s richest man couldn’t manage to buy Twitter for a reduced price. Musk was forced to buy Twitter for the initial agreed price of $54.20 per share which converts to around $44 billion. In a way, Musk ultimately had to stick to his initial April 2022 offer and the entire 6 months that Musk spent to somehow throw mud on Twitter to bring the deal price down did not yield any significant results.
While Parag managed to secure the best deal for Twitter and its investors, he is exiting Twitter with an estimated $42 million including a year’s worth of Parag’s base salary and accelerated vesting of all equity awards, according to Reuters. Agrawal’s total compensation as the CEO was $1 million annually, according to reports.
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