• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia

Trendingnow

1

Pentagon accuses Alibaba, Baidu and BYD, three of China's biggest companies, of supporting the Chinese military

2

'We are rapidly running out of time': Watchdog sounds Social Security alarm after 22% cut confirmed for 2032

3

Costco CEO Ron Vachris rose from forklift driver to the C-suite without a college degree: ‘Don’t chase a title’ is the career advice that got him there

1

Pentagon accuses Alibaba, Baidu and BYD, three of China's biggest companies, of supporting the Chinese military

2

'We are rapidly running out of time': Watchdog sounds Social Security alarm after 22% cut confirmed for 2032

3

Costco CEO Ron Vachris rose from forklift driver to the C-suite without a college degree: ‘Don’t chase a title’ is the career advice that got him there
Tech

Elon Musk to Twitter executives: You’re fired, but about that $122 million severance…

By
Tristan Bove
Tristan Bove
Contributing Reporter
Down Arrow Button Icon
By
Tristan Bove
Tristan Bove
Contributing Reporter
Down Arrow Button Icon
October 28, 2022, 12:43 PM ET
Shot of Elon Musk waving to a crowd at a SpaceX event
Twitter’s departing executives are leaving the company with some big payouts. Michael Gonzalez—Getty Images

“The bird has been freed” at Twitter with Elon Musk’s takeover, and now it looks like a bunch of executives are getting millions of dollars to stop doing their jobs.

There’s a fog of confusion around the widely watched social-media takeover, but Musk changed his bio to “chief Twit” earlier this week and filmed himself walking into Twitter’s San Francisco headquarters literally carrying a sink. On Friday morning, Twitter notified the New York Stock Exchange that its shares would no longer be listed, implying that the world’s richest man really has taken it over at last.

Musk has yet to publicly confirm a bloodbath in the Twitter C-suite, but multiple outlets reported Thursday that CEO Parag Agrawal, CFO Ned Segal, and head of legal, policy, and trust Vijaya Gadde were immediately terminated, and at least one of them was personally escorted from headquarters.

But each of those executives is set to walk away with a hefty severance package, on paper.

Among the three of them, Agrawal, Segal, and Gadde are entitled to a base severance of nearly $122 million, research firm Equilar, which specializes in executive compensation, told Fortune.

According to a Twitter regulatory filing from May, termination compensation for executives is determined by base salaries, equity in the company, and health care premiums. However, The Information reported on October 29, citing a person familiar with the situation, that Musk had fired the executives “for cause,” setting up a lengthy fight over whether Twitter will pay out any severance packages at all.

Twitter did not immediately respond to Fortune’s request for comment on the executives’ departure or their severance packages.

Executive departures

Musk taking over is likely bittersweet for the former executives who have repeatedly clashed with Twitter’s brand-new owner in recent months.

Former CEO Parag Agrawal is entitled to the biggest payout, worth $57.4 million, according to Equilar. After he initially welcomed Musk’s interest in joining the company’s board, Agrawal’s relationship with Musk soured once the latter revealed his intentions to buy Twitter in April, as detailed by a series of texts between the two disclosed in court in September, shortly before Musk dropped his lawsuit in which he was trying to get out of buying Twitter altogether.

The exchanges revealed that Agrawal had repeatedly voiced concerns to Musk over his questioning of the company’s leadership, saying he was damaging the company’s image.

“What did you get done this week?” Musk eventually answered Agrawal. “I’m not joining the board. This is a waste of time. Will make an offer to take Twitter private.”

The relationship between the two spiraled once the long takeover process began. At one point, Musk replied using a poop emoji to a series of tweets by Agrawal on the state of Twitter’s spam accounts.

While Agrawal is expected to leave Twitter with the largest payout, his former colleagues won’t be collecting chump change. CFO Segal departs the company with $44.5 million, according to Equilar, while legal chief Gadde is taking home $20 million. 

Gadde has also been the recipient of Musk criticism during the takeover process. In April, Musk criticized Gadde on Twitter for her content moderation policies, referring to a 2020 incident when Twitter blocked the New York Post’s Twitter account in response to a report regarding Joe Biden’s son Hunter and his business dealings in Ukraine.

Musk’s takeover of the company reportedly left Gadde in tears, according to a Politico report in April citing inside sources who said Gadde had expressed significant uncertainties about the direction Twitter would take under Musk.

[This article has been updated in the headline and text to state that Twitter may be starting a legal process to withhold payment of its former executives’ severance packages.]

Sign up for the Fortune Features email list so you don’t miss our biggest features, exclusive interviews, and investigations.
About the Author
By Tristan BoveContributing Reporter
LinkedIn iconTwitter icon
See full bioRight Arrow Button Icon

Latest in Tech

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • World's Most Admired Companies
  • See All Rankings
  • Lists Calendar
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • Pinterest icon

Latest in Tech

Digital sovereignty isn’t the same thing as digital isolation. Asia’s governments should be careful
Commentarydata sovereignty
Digital sovereignty isn’t the same thing as digital isolation. Asia’s governments should be careful
By Leonard LimJune 10, 2026
2 hours ago
Microsoft co-founder Bill Gates (C) arrives for a closed-door interview with the House Oversight Committee on Capitol Hill in Washington, DC, on June 10, 2026.
LawBill Gates
Gates testifies on Epstein: previous Fortune investigation reveals payments to his ex-girlfriend, $1M Microsoft deal
By Eva Roytburg, Joey Cappelletti, Hannah Schoenbaum and The Associated PressJune 10, 2026
3 hours ago
How the World Cup is a high-stakes stage for Big Tech’s AI push
NewslettersCIO Intelligence
How the World Cup is a high-stakes stage for Big Tech’s AI push
By John KellJune 10, 2026
4 hours ago
Anthropic accused of ‘secret sabotage’ as Claude Fable 5 silently limits capabilities for AI researchers and developers
AIAnthropic
Anthropic accused of ‘secret sabotage’ as Claude Fable 5 silently limits capabilities for AI researchers and developers
By Sharon GoldmanJune 10, 2026
6 hours ago
A 5-week course and a guaranteed job: Meta commits $115 million to solve the skilled-trades shortage stalling its AI buildout
Future of WorkMeta
A 5-week course and a guaranteed job: Meta commits $115 million to solve the skilled-trades shortage stalling its AI buildout
By Jacqueline MunisJune 10, 2026
6 hours ago
Xbox CEO Asha Sharma
SuccessCareers
Xbox’s CEO spent her early career taking out trash and selling coupon books—she says the secret to her rise was never obsessing over a dream career
By Preston ForeJune 10, 2026
8 hours ago

Most Popular

Pentagon accuses Alibaba, Baidu and BYD, three of China's biggest companies, of supporting the Chinese military
Asia
Pentagon accuses Alibaba, Baidu and BYD, three of China's biggest companies, of supporting the Chinese military
By Kate O'Keeffe and BloombergJune 8, 2026
2 days ago
'We are rapidly running out of time': Watchdog sounds Social Security alarm after 22% cut confirmed for 2032
Economy
'We are rapidly running out of time': Watchdog sounds Social Security alarm after 22% cut confirmed for 2032
By Nick LichtenbergJune 9, 2026
1 day ago
Costco CEO Ron Vachris rose from forklift driver to the C-suite without a college degree: ‘Don’t chase a title’ is the career advice that got him there
Success
Costco CEO Ron Vachris rose from forklift driver to the C-suite without a college degree: ‘Don’t chase a title’ is the career advice that got him there
By Preston ForeJune 8, 2026
2 days ago
Current price of oil as of June 9, 2026
Personal Finance
Current price of oil as of June 9, 2026
By Joseph HostetlerJune 9, 2026
1 day ago
Wall Street dumped nearly $1 trillion in tech stocks by midday—then clawed it back and bought peanut butter and paint
Investing
Wall Street dumped nearly $1 trillion in tech stocks by midday—then clawed it back and bought peanut butter and paint
By Eva RoytburgJune 9, 2026
1 day ago
A ‘MAGA Warrior’ Texas ag chief is publicly blasting the USDA over a flesh-eating pest threatening America's beef supply
North America
A ‘MAGA Warrior’ Texas ag chief is publicly blasting the USDA over a flesh-eating pest threatening America's beef supply
By Marco Quiroz-GutierrezJune 10, 2026
14 hours ago

© 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.