Published On: Fri, Apr 29th, 2022

Jack Dorsey set to slot $978M if Elon Musk’s Twitter merger closes

Twitter’s co-founder and former CEO Jack Dorsey is staid to accept a poignant payday if Elon Musk’s $44 billion merger of a amicable media hulk closes, as his Twitter shares would be converted into cash. Dorsey, who has declined to take a income from a association and instead chose to take a $1.40 annual paycheck, owns 2.4% of a company, with only over 18 million shares. Under Musk’s offer to buy any Twitter share for $54.20, Dorsey would accept a $978 million in cash, according to a news from The Wrap.

The company’s stream CEO Parag Agrawal would also be set for a poignant remuneration package if a understanding closes. If Musk were to move in new management, Agrawal would accept $38.7 million due to a proviso in his contract, according to a company’s latest substitute filing. Agrawal’s sum remuneration for 2021 was $30.4 million, mostly in batch awards.

As for other Twitter executives, a company’s CFO, Ned Segal, would accept $25.4 million if a association sole and Musk brought in new management. The amicable media giant’s arch authorised officer Vijaya Gadde would get $12.4 million, since Twitter’s arch patron officer Sarah Personette would accept $11.2 million.

Following a news that Twitter had accepted Elon Musk’s takeover offer, Dorsey voiced his capitulation of a due acquisition. In a tweet thread that starts out with a couple to Radiohead’s “Everything In Its Right Place,” Dorsey pronounced that “in principle, we don’t trust anyone should possess or run Twitter. It wants to be a open good during a custom level, not a company. Solving for a problem of it being a company, however, Elon is a unaccompanied resolution we trust. we trust his idea to extend a light of consciousness.”

Dorsey went on to contend that Musk’s idea of formulating a height that is “maximally devoted and broadly inclusive” is a right one and that this idea aligns with Agrawal’s prophesy for a height as well. He resolved by observant that “this is a right path” and that he is “happy Twitter will continue to offer a open conversation.”

Agrawal’s greeting to a news was some-more subdued, observant in a twitter that “Twitter has a purpose and aptitude that impacts a whole world. Deeply unapproachable of a teams and desirous by a work that has never been some-more important.”

As with many things surrounding a acquisition, it’s different if Agrawal will sojourn in his position as CEO if a understanding goes through. However, Musk had settled in SEC filings that he did not have certainty in Twitter’s stream management, that indicates that Agrawal and other Twitter executives might not sojourn in their positions once Musk takes control.

Twitter says a transaction, that was unanimously authorized by a board, will expected tighten this year following shareholder and regulatory capitulation and “the compensation of other prevalent shutting conditions.”

How’d we get here, we might ask? Here’s a complete timeline of a Elon Musk-Twitter saga.

Twitter accepts Elon Musk’s $44B merger offer

A finish timeline of a Elon Musk-Twitter saga

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