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Jack Dorsey is all set to take hefty amount of $978 million in cash once Elon Musks Twitter bid completes

Written By: Aashish Vashistha

In Picture: Former Twitter CEO, Jack Dorsey.

April 27, 2022 (New Delhi): Former Twitter CEO, Jack Dorsey holds 2.4% or a little over 18 million shares in the microblogging company and after once the $44 billion deal is closed, his Twitter shocks will be converted into cash, as per a recent report by The Wrap. Dorsey would also receive $978 million in cash. Since the launch of the microblogging platform, Dorsey popularly took a $1.40 annual paycheck while serving as Twitter CEO.

Picture Credit: Google.

Initial CEO of Twitter, Parag Agrawal will receive nearly $39 million due to a clause in his contract. Agrawal’s total compensation for 2021 was $30.4 million, largely in stocks. The company’s CFO Ned Segal would receive $25.4 million if leaves the company. It seems Elon Musk’s full authority on Twitter is adding monetary value to so many onboard members of the company. Accordingly, Twitter’s board chair Bret Taylor would receive a payout of just over $3 million and former board chair Omid Kordestani would get $50.6 million in his payout, the report stated.

In Picture: Elon Musk.

Elon Musk has mentioned that once he acquire Twitter, he will bring edit option for the Twitter users and will promote free speech, regulating manipulation and false narratives. Twitter has entered into a definitive agreement to be acquired by an entity wholly acquired and owned by Musk for $54.20 per share in cash in a transaction valued at nearly $44 billion. Upon completion of the transaction, Twitter will become a privately-held company. Musk has eloquently focused on authenticating every humans on the microblogging platform, Twitter.

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