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Jack Dorsey will receive $44 billion if the acquisition of Elon Musk is completed

Jordan Robson by Jordan Robson
April 30, 2022
Jack Dorsey will receive Rp. 14 trillion if the acquisition of Elon Musk is completed - Jack Dorsey will receive $44 billion if the acquisition of Elon Musk is completed
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Jack Dorsey will reportedly receive IDR 14 trillion if Elon Musk's $44 billion acquisition is completed. To note, Dorsey has been refusing a salary from the company in favor of receiving annual income for his 2.4% stake in the company, with more than 18 million shares.

Musk's takeover bid costs $54.20 each share, so Dorsey will receive $978 million in cash, The Wrap reports.

Twitter CEO Parag Agrawal will also receive significant compensation if Musk plans to create a new management. Agrawal will receive $38.7 million according to a clause in his contract, according to the company's latest proxy filing. Agrawal's total compensation for 2021 is $30.4 million, mostly in shares.

As for other Twitter executives such as the company's CFO, Ned Segal will earn $25.4 million if the company sells and brings in new management. Chief legal officer Vijaya Gadde will receive $12.4 million, while chief customer officer Sarah Personette will receive $11.2 million.

Following news of Elon Musk's takeover of Twitter, Dorsey expressed his approval of the proposed acquisition. In a tweet, Dorsey said, “In principle, I don't believe anyone should own or run Twitter. (Twitter) wants to be a public good at the protocol level, not a company. Solving the problem of being an enterprise, however, Elon is the single solution I believe. I believe in its mission to expand awareness.”

According to Dorsey, Musk's goal of creating a fully trusted and broadly inclusive platform is a true goal and is in line with Agrawal's vision for Twitter.

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Jordan Robson

Jordan Robson

Studied in engineering and journalism. Jordan been covering the startup and hardware scene since 2017.

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