"Twitter" in the time of Musk.. Ads stopped and employees left by the millions

 The largest US automaker has suspended paid advertising on the Twitter platform, after billionaire Elon Musk completed its acquisition, at a time when it was reported that the latter would pay about $ 200 million to executives on the platform, after he sacked them from their positions.

Two days ago, Elon Musk, owner of Tesla for electric cars and SpaceX, completed the acquisition of Twitter for $44 billion, after negotiations and courts that lasted for several months. On his first day in charge of the microblogging site, Musk fired a number of executives, including CEO Parag Agrawal, CFO Ned Segal, and Chief Legal and Policy Vijaya Jade.

CNN reported, on Saturday, that the three officials will leave Twitter with amounts estimated at about $187 million. She added that they will get a large part of this money even if they remain under the new administration. These and other shareholders will receive payments from Musk, after the latter bought their shares for $ 54.20 per share.

Agrawal, who assumed the position of CEO less than a year ago, owns the smallest share of the three shares, estimated at 155,000 shares, equivalent to $8.4 million according to the price paid by Musk, and Segal will receive $22 million for 406,000 shares he owns. Jade will receive $34.8 million for 642,000 shares.

However, this is not the only source of funds that these people will receive, as there is also the so-called “golden parachute compensation”, which was agreed by the shareholders in the purchase agreement, and amounts to 121 million dollars, in addition to health insurance for a year worth 73,000 dollars each, to rise The total amount they will receive is $187 million.

Ads stopped

In another context related to the Twitter acquisition deal, the British "Sky News" network reported that the largest automaker in America stopped paid ads on Twitter shortly after the deal was announced.

And it quoted "General Motors" as saying that it had temporarily suspended paid advertising on the micro-blogging platform, considering it a "normal course for the company" after the major change that took place on the media platform. She added that she is engaged with Twitter to understand its orientation under the new owner, stressing that the customer care department will continue to work on the platform.

Ad sales made up 90 percent of Twitter's habits in the second quarter of this year. Several ad agencies and brands had expressed doubts about the future of Twitter last May, when the deal was in its infancy.