Run Us Our Coins Elon: Phony Stark Being Sued By Fired Twitter Execs For Over $128 Million
Written by djfrosty on March 5, 2024
Source: NurPhoto / Getty / Elon Musk
Phony Stark, aka Elon Musk’s pockets, might be a little lighter if fired Twitter executives get their way.
As seen on The Verge, when Tesla chief and owner of X, Elon Musk, reluctantly took over Twitter, he gave a lot of people the boot, including top execs at the social media company.
Now, those same Twitter execs are coming for their coins they feel Musk owes them, the website reports via The Wall Street Journal’s reporting.
Former CEO Parag Agrawal, former CFO Ned Segal, former chief legal officer Vijaya Gadde, and former general counsel Sean Edgett slapped Musk with a lawsuit asking for more than $128 million in severance payments.
Per The Verge:
The same execs who forced Musk to close his $44 billion acquisition in the first place, who are now claiming his goal was to “cheat” them out of $200 million before their stock options vested the next morning. They also have a remarkably thorough source to explain why he closed the deal and fired them when he did: Elon Musk himself, as quoted by Walter Isaacson in the biography released last year, Elon Musk.
Another passage cited from the book calls out a conversation between Musk and his lawyer, Alex Spiro. “[H]e tried to resign … but we beat him,” they said, specifically referring to Agrawal. By firing Agrawal before he was able to send a resignation letter, they apparently believed it would mean the company wouldn’t have to pay his severance package.
The lawsuit also claims that X’s board says the company needed to pay $90 million to the lawyers who successfully made Elon Musk go through with Twitter’s $44 billion acquisition.
Call us haters, but we hope those former Twitter execs win this lawsuit.