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Jack Dorsey to take dwelling practically $1 bn as soon as Musk’s Twitter deal closes

New Delhi: Jack Dorsey is ready to take dwelling a hefty quantity of $978 million in money as soon as the Elon Musk’s Twitter takeover deal will get by way of.

Dorsey holds 2.4 per cent or somewhat over 18 million shares within the firm and after as soon as the $44 billion deal is closed, his Twitter shocks can be transformed into money, reviews The Warp.

With Musk’s supply to purchase every Twitter share for $54.20, Dorsey would obtain a $978 million in money.

Dorsey famously took a $1.40 annual paycheck whereas serving as Twitter CEO since its launch in 2006.

Present CEO Parag Agrawal will obtain practically $39 million as a result of a clause in his contract.

Agrawal’s complete compensation for 2021 was $30.4 million, largely in shares.

The corporate’s CFO Ned Segal would obtain $25.4 million if leaves the corporate.

The chief authorized officer Vijaya Gadde would get $12.4 million, whereas Twitter’s chief buyer officer Sarah Personette would obtain $11.2 million.

Twitter’s board chair Bret Taylor would obtain a payout of simply over $3 million and former board chair Omid Kordestani would get $50.6 million in his payout, the report talked about.

Twitter has entered right into a definitive settlement to be acquired by an entity wholly owned by Musk for $54.20 per share in money in a transaction valued at practically $44 billion.

Upon completion of the transaction, Twitter will change into a privately-held firm.

The acquisition value represents a 38 per cent premium to Twitter’s closing inventory value on April 1, which was the final buying and selling day earlier than Musk disclosed his practically 9 per cent stake in Twitter.

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Written by VK Team

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