It was a popular demand, although it has taken almost a year and a half to arrive. The former bosses of Twitter, including its CEO, Parag Agrawal, had multimillion-dollar protection against dismissal when Elon Musk bought the social network, which he later renamed X. Musk, however, refused to pay those severance packages and even boasted of having made a master move to bring forward the closing of the operation and fire them appropriately. Now, Agrawal and four other directors are demanding compensation of 128 million dollars (about 118 million euros) from the owner of the social network in a lawsuit filed in a California court.
The four plaintiffs are Agrawal; CFO Ned Segal; the legal manager, Vijaya Gadde, and the general counsel, Sean Edgett. Firing the four was the first decision Musk made upon taking control of Twitter. These executives had been decisive in the legal battle waged against Elon Musk to force him to buy the social network when he wanted to back out, citing all kinds of baseless excuses.
The operation brochure indicated that Agrawal had a shield or “golden parachute,” as the document called it, of just over $60 million. It also said that there were Segal, with 46.4 million dollars; Gadde, with 21 million, and Sarah Personette, client director, with another 20 million. The latter did not enter the first round of layoffs.
The former executives say that Musk showed “particular anger” toward them after taking over the social network in 2022, publicly promising to withhold their compensation to recover about $200 million from the $44 billion deal, according to the lawsuit filed. Monday in federal court in Northern California.
“Under Musk's control, Twitter has become a criminal, scamming employees, landlords, suppliers and others. “Musk doesn't pay his bills, believes the rules don't apply to him, and uses his wealth and power to trample anyone who disagrees with him,” attorneys for Agrawal and the other former executives say in the 38-page lawsuit. , as cited by Bloomberg.
In early December, Also in December, a San Francisco judge rejected They would be paid 50% of the planned amounts.
More legal fronts
The judicial fronts are multiplying for Elon Musk after the setback he suffered when a judge annulled a record remuneration of up to $56 billion that the executive had been assigned to Tesla through the board. Now, the lawyers who managed to annul that package have asked the judge to award them company shares worth $5.6 billion in legal fees, 10% of the amount of the lawsuit. If approved, it would be the largest compensation of its kind. Lawyers in cases arising from the Enron bankruptcy collected a record $688 million in legal fees in 2008. Lawyers say the sum is justified because they would not have been paid if they had lost and the benefit to Tesla from the annulment of the remuneration package “has been massive.”
For his part, Musk filed a lawsuit last week against OpenAI, the company responsible for ChatGPT, its CEO, Sam Altman, and other senior officials of the organization, such as Greg Brockman (president of OpenAI), for having abandoned the mission. original of the company he co-founded: to contribute to the development of artificial intelligence (AI) in a selfless, non-profit way, for the benefit of humanity.
Musk believes that this is totally impossible in light of OpenAI's agreement with Microsoft, the largest company in the world by market capitalization, which has invested $13 billion in its partner.
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