Tesla founder Elon Musk, the world's richest man, on Friday closed the $44 billion Twitter deal. He said he hasn't bought Twitter to earn profit but to help humanity. The first move he made after taking over the world's biggest social website is firing CEO Parag Agrawal with whom he had several run-ins during the messy acquisition. Also fired were CFO Ned Segal and legal chief Vijaya Gadde. Musk has been publicly critical of Twitter's erstwhile leadership claiming they hid from the investor's accurate information about the bot accounts. Musk had also backed out of the deal but was forced to go through with it following a protracted legal battle in US courts.
Who is Parag Agrawal?
38-year-old Parag Agrawal was one of the senior-most Twitter employees before he was sacked as the CEO of the micro-blogging website. He is an India-born software engineer educated at IIT Bombay and Stanford University.
He was born in Rajasthan's Ajmer in 1984. His father worked in the Department of Atomic Energy and his mother is a retired professor of economics.
Parag was always a meritious student.
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He joined Twitter in 2011 as a software engineer and worked his way up to becoming the Chief Technology Officer in 2017 after the departure of Adam Messinger. He became the CEO in 2021 after Jack Dorsey's unceremonious exit.
He is married to Vineeta Agrawal, a general partner at the venture capital firm Andreessen Horowitz. They have two children.
Also read: How Parag Agrawal, Twitter employees reacted to Elon Musk's latest offer: 'Write the cheque bro'
They have two children who were born in 2018 and 2022. Parag took paternity leave as the Chief Executive Officer of Twitter for the birth of his second child.
While Jack Dorsey received a salary of 1.40 dollar in 2021, Parag Agrawal's annual compensation was not this modest.
Per reports in the western media, Parag Agrawal earned a salary package of 30.3 million dollars when he became the CEO of the company. This includes a salary of $623,000, $600,000 bonus and $29 million in stock awards. The company also paid $64,000 as security compensation.
He is going to receive around 44 million dollars after vesting his unvested stocks.
