paragagrawal
Elon Musk is being sued - again - this time by former Twitter chiefs for unpaid severance amounting to $128 million (£100 million). Ex-CEO Parag Agrawal, chief financial officer Ned Segal, chief legal counsel Vijaya Gadde, and general counsel Sean Edgett have claimed they were “fired without reason” when the billionaire businessman bought Twitter, which he rebranded as X, for $44 billion in 2022. According to the lawsuit filed on Monday (04.03.24), they claim they were informed they had been fired for a "fake cause" of “gross negligence and willful misconduct” and that there is no proof. The d...
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Elon Musk has sacked Twitter’s board of directors. The 50-year-old billionaire - whose $44 billion takeover of the social media giant was finalised last week - is the only member serving on the board after he banished Bret Taylor, the ex chairman of the board and Parag Agrawal, the ex CEO. The Tesla founder made the move - which was made public via a filing with the US Securities and Exchange Commission - has already hinted at radical changes at the microblogging service such as charging account holders nearly $20 a month to be verified, according to reports. On Sunday (30.10.2022), Elon revea...
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Elon Musk is said to have formally announced he will be chief executive officer of Twitter. The Sun Online reported on Monday night (31.10.22) he made the declaration in a filing following his $44 billion buy-up of the company. It also comes after the Tesla billionaire, 51, fired former Twitter CEO Parag Agrawal and other top officials, and changed his bio on the platform to ‘Chief Twit’. The Sun Online said all previous members of the Twitter board no longer have authority, according to Elon’s Securities and Exchange Commission filing seen by the outlet. There have also been reports the dad-o...
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Elon Musk could close his £36 billion Twitter deal this week, say sources. The 50-year-old billionaire alerted the investment cohort helping him acquire the microblogging site that he intends to seal the deal by the end of the working week. According to Bloomberg, the equity investors - which include Sequoia Capital, Biance, Qatar Investment Authority - have gotten their hands on the paperwork from the Tesla founder’s legal team. According to the news outlet’s source, the banks involved have always finalised the debt financing agreement and are working on signing it all off. This development i...
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Elon Musk says Twitter won’t “take yes for an answer”. The SpaceX founder claims he wants to finalise his attempt to purchase the social media giant for $44 billion but it has been hindered by their concern about the "theoretical possibility of a future failure to obtain debt financing”. In a court filing, the 50-year-old billionaire details that the microblogging site does not believe the deal can come through. This revelation comes as Twitter launched legal action against Elon after he tried to rescind his offer to buy them outright. In response, both sides were given until October 28 to fin...
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Elon Musk’s Twitter deal is back on. The SpaceX founder is believed to have changed his mind after he withdrew his offer to purchase the social media giant for $44 billion just two weeks before the two parties were expected to head to court to fight it out. Their day in court came after Twitter launched legal action against Elon to ensure he went through with the takeover following the individual share prices to tank. Late last month, a published text exchange between Elon and the current CEO Parag Agrawal showed there was growing animosity between the pair. Writing in a letter, lawyers for th...
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Elon Musk refutes allegations he had an affair with Google co-founder Sergey Brin’s wife. The Tesla founder and CEO clapped back at Wall Street Journal’s reporting he had slept with lawyer Nicole Shanahan - who is currently in the process of divorcing the 48-year-old billionaire - labelling the claims “total bs” and declaring there was “nothing romantic” between them. Elon wrote on Twitter: “This is total bs. Sergey and I are friends and were at a party together last night! “I’ve only seen Nicole twice in three years, both times with many other people around. Nothing romantic.” According to th...
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Twitter shares have taken a tumble in value after Elon Musk pulls out of his £36 billion buyout deal. The social media giant took a tumble on the New York Stock Exchange after the Tesla founder and CEO withdrew his offer to purchase the microblogging site after months of stalling on the deal, which included a $1 billion break clause for the 50-year-old tech mogul. Twitter - who plan to take legal action against the SpaceX founder for his refusal to honour the purchase after he cast doubts about the number of bot accounts on the site - were trading for $34.40 in the early hours of Monday mornin...
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Elon Musk is trying to withdraw his £36 billion bid to buy Twitter. The billionaire Tesla CEO backed out to the deal after he claimed that the social media giant did not offer up enough info on the number of spam accounts currently operational on the microblogging site. In response to 50-year-old tech mogul rescinding his offer - which comes with a $1 billion break clause - Twitter have outlined their intention to pursue legal action against him. Bret Taylor, Twitter’s chairman tweeted: "The Twitter Board is committed to closing the transaction on the price and terms agreed upon with Mr. Musk....
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Elon Musk says his Twitter deal cannot "move forward" without the CEO publicly showing proof that less than five per cent of its users are spam bots. The Tesla and SpaceX has made it clear that his $44 billion (£35 billion) takeover of the micro-blogging platform will be on hold until the issue of bots is cleared up. He tweeted: "My offer was based on Twitter’s SEC filings being accurate. Yesterday, Twitter’s CEO publicly refused to show proof of 5%. This deal cannot move forward until he does.” The world's richest man has even suggested reducing his agreed $54.20 a share offer because of the ...
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