{"id":438080,"date":"2022-04-26T17:07:30","date_gmt":"2022-04-26T14:07:30","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/jack-dorsey-set-for-978m-payday-from-elon-musk-twitter-buy\/"},"modified":"2022-04-26T17:07:30","modified_gmt":"2022-04-26T14:07:30","slug":"jack-dorsey-set-for-978m-payday-from-elon-musk-twitter-buy","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/jack-dorsey-set-for-978m-payday-from-elon-musk-twitter-buy\/","title":{"rendered":"#Jack Dorsey set for $978M payday from Elon Musk Twitter buy"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a3faee0ba5e6\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a3faee0ba5e6\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/jack-dorsey-set-for-978m-payday-from-elon-musk-twitter-buy\/#%E2%80%9CJack_Dorsey_set_for_978M_payday_from_Elon_Musk_Twitter_buy%E2%80%9D\" >&#8220;Jack Dorsey set for $978M payday from Elon Musk Twitter buy&#8221;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9CJack_Dorsey_set_for_978M_payday_from_Elon_Musk_Twitter_buy%E2%80%9D\"><\/span>&#8220;Jack Dorsey set for $978M payday from Elon Musk Twitter buy&#8221;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div>\n<aside class=\"single__inline-module alignleft\">\n<\/aside>\n<p>Jack Dorsey, the co-founder of Twitter who stepped down as CEO last year, stands to pocket $978 million once Tesla CEO Elon Musk completes his $44 billion takeover of the <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">social media<\/a> platform.<\/p>\n<p>Parag Agrawal, the current chief executive of the San Francisco-based tech giant, will go home with a $42 million payday as a result of the transaction, <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.reuters.com\/technology\/twitter-ceo-set-receive-42-million-if-terminated-after-musk-deal-2022-04-25\/\">Reuters is reporting<\/a>.<\/p>\n<p>Dorsey owns 2.4% of the company, which translates into 18,042,428 shares, according to SEC filings. <\/p>\n<p>Twitter\u2019s board of directors accepted Musk\u2019s offer to buy the company at $54.20 per share.<\/p>\n<p>Agrawal, the former chief <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/technology\/\" data-internallinksmanager029f6b8e52c=\"4\" title=\"Technology\" target=\"_blank\" rel=\"noopener\">technology<\/a> officer who succeeded Dorsey as CEO late last year, would be due to receive a payout of $42 million while another Twitter executive, CFO Ned Segal, would go home with a $25.5 million pay package.<\/p>\n<p>Agrawal and Segal\u2019s payouts would be triggered by a so-called \u201cchange in control\u201d clause in their contracts which kicks in if either of them is terminated within 12 months of new ownership assuming the helm of the company.<\/p>\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" loading=\"lazy\" width=\"683\" height=\"1024\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/04\/parag-agrawal-39m-payday-elon-musk-takeover-01.jpg?w=683\" alt=\"Parag Agrawal\" class=\"wp-image-22037169\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/04\/parag-agrawal-39m-payday-elon-musk-takeover-01.jpg?quality=75&amp;strip=all&amp;w=1366 1366w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/04\/parag-agrawal-39m-payday-elon-musk-takeover-01.jpg?quality=75&amp;strip=all 1024w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/04\/parag-agrawal-39m-payday-elon-musk-takeover-01.jpg?quality=75&amp;strip=all&amp;w=683 683w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/04\/parag-agrawal-39m-payday-elon-musk-takeover-01.jpg?quality=75&amp;strip=all&amp;w=341 341w\" sizes=\"auto, (max-width: 683px) 100vw, 683px\"\/><figcaption>Parag Agrawal, who succeeded Dorsey as CEO, is in line for a $42 million payout.<\/figcaption><figcaption><span class=\"credit\">TWITTER\/AFP via Getty Images<\/span><\/figcaption><\/figure>\n<p>In SEC filings, Musk has stated that he did not have confidence in Twitter\u2019s current management \u2014 which likely means Agrawal, Segal, and other top executives will be out once ownership changes hands.<\/p>\n<p>Research firm Equilar estimated Agrawal\u2019s payout by factoring in a year\u2019s worth of his base salary plus accelerated vesting of all equity awards, an Equilar spokesperson told Reuters, based on Musk\u2019s offering price of $54.20 per share and terms in the company\u2019s recent proxy statement.<\/p>\n<p>Agrawal, previously Twitter\u2019s chief technology officer, was named CEO in November. His total compensation for 2021 was $30.4 million, according to Twitter\u2019s proxy, largely in stock awards.<\/p>\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" loading=\"lazy\" width=\"1024\" height=\"681\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/04\/twitter-exec-payday-elon-musk-takeover-01.jpg?w=1024\" alt=\"Elon Musk\" class=\"wp-image-22037167\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/04\/twitter-exec-payday-elon-musk-takeover-01.jpg?quality=75&amp;strip=all&amp;w=1535 1536w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/04\/twitter-exec-payday-elon-musk-takeover-01.jpg?quality=75&amp;strip=all 1024w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/04\/twitter-exec-payday-elon-musk-takeover-01.jpg?quality=75&amp;strip=all&amp;w=512 512w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\"\/><figcaption>Twitter\u2019s board of directors <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>roved Musk\u2019s offer to buy the company at $54.20 a share on Monday.<\/figcaption><figcaption><span class=\"credit\">AFP via Getty Images<\/span><\/figcaption><\/figure>\n<p>\u00a0Dorsey on Monday night called Musk\u2019s $44 billion\u00a0takeover\u00a0of the social media platform the \u201cright path\u201d for the company.<\/p>\n<p>\u201cElon\u2019s goal of creating a platform that is \u2018maximally trusted and broadly inclusive\u2019 is the right one,\u201d Dorsey\u00a0<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/jack\/status\/1518772757340639232\">tweeted<\/a>.<\/p>\n<p>Dorsey also thanked Musk and Agrawal \u201cfor getting the company out of an impossible situation.\u201d<\/p>\n<p>\u201cThis is the right path\u2026I believe it with all my heart,\u201d wrote Dorsey, who stepped down as CEO of Twitter in November.<\/p>\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" loading=\"lazy\" width=\"686\" height=\"1024\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/04\/jack-dorsey-978m-payday-elon-musk-takeover-01.jpg?w=686\" alt=\"Jack Dorsey\" class=\"wp-image-22037166\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/04\/jack-dorsey-978m-payday-elon-musk-takeover-01.jpg?quality=75&amp;strip=all&amp;w=1372 1372w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/04\/jack-dorsey-978m-payday-elon-musk-takeover-01.jpg?quality=75&amp;strip=all&amp;w=1029 1029w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/04\/jack-dorsey-978m-payday-elon-musk-takeover-01.jpg?quality=75&amp;strip=all&amp;w=686 686w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/04\/jack-dorsey-978m-payday-elon-musk-takeover-01.jpg?quality=75&amp;strip=all&amp;w=343 343w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/04\/jack-dorsey-978m-payday-elon-musk-takeover-01.jpg?quality=75&amp;strip=all 1024w\" sizes=\"auto, (max-width: 686px) 100vw, 686px\"\/><figcaption>Dorsey endorsed Musk\u2019s takeover of the company.<\/figcaption><figcaption><span class=\"credit\">AFP via Getty Images<\/span><\/figcaption><\/figure>\n<p>Dorsey endorsed Musk\u2019s vision, saying that operating Twitter as a company \u201chas always been my sole issue and my biggest regret\u201d and that \u201cTaking it back from Wall Street is the correct first step.\u201d<\/p>\n<p>\u201cIn principle, I don\u2019t believe anyone should own or run Twitter,\u201d he tweeted. \u201cIt wants to be a public good at a protocol level, not a company. Solving for the problem of it being a company however, Elon is the singular solution I trust. I trust his mission to extend the light of consciousness.\u201d<\/p>\n<p>Musk, whose massive deal was accepted by Twitter on Monday, said he wanted to purchase Twitter to restore the platform\u2019s adherence to free speech principles.\u00a0<\/p>\n<p><em>With Post Wires<\/em>\n                        <\/div>\n<p><script async src=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/news\/\" target=\"_blank\" rel=\"noopener\">News category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/nypost.com\/2022\/04\/26\/jack-dorsey-set-for-978m-payday-from-elon-musk-twitter-buy\/\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;Jack Dorsey set for $978M payday from Elon Musk Twitter buy&#8221; Jack Dorsey, the co-founder of Twitter who stepped down as CEO last year, stands to pocket $978 million once Tesla CEO Elon Musk completes his $44 billion takeover of the social media platform. Parag Agrawal, the current chief executive of the San Francisco-based tech&#8230;<\/p>\n","protected":false},"author":1,"featured_media":438081,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/04\/jack-dorsey-978m-payday-elon-musk-takeover-02.jpg?quality=75&strip=all&w=1024","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[128483,39394,73952,4976,10401,70360],"class_list":["post-438080","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-4-26-22","tag-elon-musk","tag-jack-dorsey","tag-social-media","tag-twitter","tag-wall-street"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/438080","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=438080"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/438080\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/438081"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=438080"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=438080"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=438080"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}