Parag Agrawal, Twitter’s former general counsel Vijaya Gadde, and Ned Segal, its former chief financial officer, were removed from their positions when Elon Musk acquired the platform in a $44 billion deal in October last year.
However, there is little clarity about the nature of the investigations or if they are still being conducted.
In a recent development, Twitter has announced that it no longer exists as a separate entity and has been merged into X Corp. In a court filing in the US, Twitter submitted, “Twitter Inc. has been merged into X Corp. and no longer exists. X Corp. is a privately held corporation, incorporated in Nevada, with its principal place of business in San Francisco, California.”
Parag Agrawal was CEO of Twitter for a relatively short tenure of 10 months, however, when he left the company, he got a handsome amount. Parag Agrawal had the golden parachute clause in his employment contract with Twitter. Apart from this, he also held a significant number of shares in the company, an India Today report said. According to the report, Parag holds around 128,000 Twitter shares, which are now valued at close to $7 million.
Experts have said that Musk’s plans to generate revenue with offerings like Twitter Blue appear to be a step towards making the platform profitable. However, the results of the same remain to be seen.