Elon Musk and X/Twitter have been sued for $128 million by former CEO Parag Agrawal and other executives over alleged unpaid severance pay.
As reported Engadgetthe lawsuit It refers to the turbulent takeover that saw Musk attempt to back out of the $44 billion deal before being sued to force the takeover. She says Musk has “particular anger” toward Agrawal, CFO Ned Segal, Chief Legal Officer Vijaya Gade, and General Counsel Sean Edgett, all of whom were fired when the acquisition was completed, because of the role they played in the lawsuit that halted the acquisition. Musk from retreating.
The lawsuit claims that Agrawal is entitled to $57.4 million in severance pay, Segal is entitled to $44.5 million, Gadde is entitled to $20 million, and Edgett is entitled to $6.8 million, for a total of about $128 million.
“Musk does not pay his bills, believes the rules do not apply to him, and uses his wealth and power to attack anyone who disagrees with him,” the lawsuit says. “Because Musk decided he didn’t want to pay severance pay to the plaintiffs, he simply fired them without cause, then fabricated a fake case and hired employees at his various companies to support his decision.”
He also cites Walter Isaacson's autobiography, which claims Musk bragged about a $200 million savings move that saw him rush to close the acquisition early in the day to fire executives before final stock options were set to reach their full value.
X/Twitter has undergone countless transformations, including a complete rebrand, since Musk acquired it in October 2022. Perhaps the biggest change is the loss of advertising support from major companies including Disney and Warner Bros. and PlayStation, all of which reduced their advertising revenue. He was on the platform in November 2023. This came after Musk supported the anti-Semitic conspiracy theory on November 16.
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Ryan Dinsdale is a freelance reporter at IGN. He'll talk about The Witcher all day long.
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