Elon Musk Faces $128 Million Compensation Lawsuit

The CEO of Twitter, Parag Agrawal, has filed a lawsuit demanding Elon Musk pay more than $128 million in compensation as stipulated in their contractual agreement.

The lawsuit, filed by Agrawal’s attorneys along with three other department directors, was submitted to the San Francisco County Court on March 4th. The plaintiffs claim that Musk did not adhere to the agreement made with the terminated staff following the $44 billion acquisition of Twitter in October 2022.

According to Agrawal’s lawyer, this legal action is a result of Musk’s failure to repay his debts. “They had no choice but to take this matter to court,” the lawyer stated.

In 2021, Agrawal, the former CEO of Twitter, was compensated with $30 million during his final year at the company. However, Musk declared in dismissal letters that the executives were terminated due to “serious negligence” and “misconduct”, therefore refusing to provide severance pay.

The plaintiffs also argue that Twitter’s new owner has never presented specific allegations regarding the reasons for the dismissal of the previous leadership team and other employees.

The lawsuit also reveals that Musk vowed to “take revenge” on the Twitter’s executives after they hindered his efforts to withdraw from the social media platform’s acquisition agreement.

Forbes estimates Elon Musk’s net worth to be over $200 billion. However, the American billionaire is currently facing multiple lawsuits demanding more than $500 million in compensation from former managers and engineers at Twitter. Additionally, there are cases of allegations of non-payment of obligations to contractors and partners.

Agrawal’s lawyer further added, “Musk refuses to pay his debts and asserts that the rules do not apply to him, using his wealth and power to ruthlessly deal with anyone who does not comply with his demands.”

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