This Friday, tech billionaire Elon Musk confirmed his long-standing buyout of Twitter — the utilization of his
newfound energy to knock some key executives off the board, including CEO Parag Agrawal.
Agrawal’s fling at Twitter became once barely storied. The IIT-Bombay x Stanford graduate first linked himself with Microsoft and Yahoo!, sooner than joining Twitter in 2011 with a half of-baked Ph.D. on his plate.
He soon came in the future of himself working with synthetic intelligence initiatives designed to ascertain consumer knowledge and push adverts — generating millions of greenbacks for the platform.
However how worthy has Agrawal accumulated for himself? Let’s take a more in-depth watch.
Agrawal’s short but impressive stint on the helm of Twitter noticed the firm’s earnings upward push by 17.45% — grand numbers that allowed him to receive an annual wage of 1,000,000 dollars. As successfully as to this, he purchased an annual performance bonus of as much as 150% of his faulty wage — representing yet one more $2.5 million.
This isn’t as necessary because the termination contract he has labored by way of, on the replacement hand. Out of the total $88 million offered to top Twitter experts who purchased the axe this week, Agrawal will take dwelling the largest payout of $38.7 million, largely due “to the entirety of his shares vesting upon his firing”.
These shares like been roughly rate $12.5 million — leaving an approximate uncover rate of appropriate about $50 million, which is a almost 1500% upward push in his rate in the future of the final year.
What Will Agrawal Utilize On?
Given the indisputable truth that his wealth has multiplied hugely — possibly as a result of Agrawal’s a shrimp laissez-faire components to handling Elon’s takeover plans — Agrawal can cease heavenly worthy anything else he
needs for a whereas.
He isn’t one to sit down spherical and bide his time, on the replacement hand. Most of Agrawal’s occupation is plagued by examples of deep learn into AI, knowledge administration, and other linked fields, all of that are seriously profitable in 2022. Of particular hobby is his management of Project Bluesky — a small crew space in space by ex-Twitter CEO Jack Dorsey that targets to space up a decentralized social community protocol.
Given his hobby in the field, some genuinely feel that Agrawal will employ his newfound funds to spearhead new corporations — most definitely the utilization of his earlier years of learn work for one of the most largest tech
corporations in the sphere.
Meanwhile, Musk — who became once lately embroiled in a rumor that urged he became once aiming to fireplace
75% of Twitter’s personnel — assuaged followers in the wake of firing Agrawal and some of his
On Thursday, Musk wrote a message to reassure advertisers that social messaging companies and products wouldn’t devolve into “a free-for-all hellscape, where anything else will most most likely be mentioned with no consequences!”
“The reason I purchased Twitter is because is important to the style forward for civilization to love a
licensed digital city square, where a big series of beliefs will most most likely be debated in a wholesome components,
without resorting to violence,” Musk mentioned in the message.
“There is currently grand hazard that social media will splinter into some distance-comely cruise and some distance left-cruise
echo chambers that generate extra hate and divide our society.”
Lead Describe: Twitter