With Twitter’s takeover by the richest person on Earth, the co-founder of the social media platform- Jack Dorsey is all set to pool in $978 million in cash, once the formalities of the deal gets through.
Dorsey owns 2.4 per cent or over 18 million shares in Twitter, and with the completion of the $44 billion deal, his share will be converted into cash, as per the reports by the media.
Elon Musk had put forth one-of-a-kind and “his best offer” to acquire Twitter share for $54.20 apiece, which translates to $978 million in cash for Dorsey for his share.
Dorsey, back in 2019, reportedly, took $1.40 as base salary while serving as Twitter CEO.
Twitter CEO Parag Agrawal is likely to get $42 million if the company goes under rejig after Elon Musk takes over the platform.
Agarwal became Twitter’s CEO after CEO Jack Dorsey stepped down from his position in November 2021.
Agrawal’s salary for 2021 was $30.4 million, largely in stocks.
The company’s CFO Ned Segal would get $25.4 million if he quits the company, while the chief legal officer Vijaya Gadde is likely to receive $12.4 million, and Twitter’s chief customer officer Sarah Personette, a little low at $11.2 million.
Board chair of Twitter– Bret Taylor would get $3 million and former board chair Omid Kordestani is likely to receive $50.6 million in his payout.
Twitter agreed to the offer by Musk to sell its platform for $54.20 per share in cash.
Upon completion of the deal, Twitter would become privately-held company.