Parag Agrawal's salary revealed! Know how much Twitter's new CEO will be paid

Parag Agrawal, an IIT-Bombay graduate, who took over as Twitter's new CEO from Jack Dorsey, would be paid a $1 million annual salary plus bonuses, the company stated in a filing with the US Securities and Exchange Commission (SEC). In addition, Agrawal will get $12.5 million in Restricted Stock Units (RSUs) that will be transferred in 16 equal quarterly increments beginning February 1, 2022, as well as performance-based RSUs in April 2022. According to Twitter, Agrawal received RSUs and PRSUs early this year but no specifics were disclosed, reported Moneycontrol on Tuesday. 

The report stated that Twitter co-founder Jack Dorsey, who resigned CEO on November 29, did not take any compensation and benefits since 2015 except an annual salary of $1.40 as a testament to "his commitment to and belief in Twitter's long-term value creation potential." In recent years, he has sold hundreds of millions worth of stock in Square, a digital payments company. Dorsey co-founded Square in 2009, and the company's market worth of $98.2 billion is more than double that of Twitter's $37 billion. He presently owns an approximately 11% stake in Square as well as about 2.26% in Twitter.

Agrawal began working for Twitter in 2011

It is pertinent to mention here that on Monday, November 29, the 37-year-old Agrawal was named CEO of Twitter, joining the ranks of Microsoft's Satya Nadella, Alphabet's Sundar Pichai, IBM's Arvind Krishna, and Adobe's Shantanu Narayen as global IT CEOs from India. He began working for the social media company in 2011 and has been Twitter's Chief Technology Officer (CTO) since October 2017. Agarwal's early responsibilities included artificial intelligence and machine learning, according to a report by CNBC.

It has been reported that plans to remove Dorsey as CEO were made in 2020 by Twitter stakeholder Elliott Management, however, a deal between the two prevented that from happening. As per CNBC, it was Elliott Management's founder Paul Singer who objected to Dorsey's control over two companies. Currently, Dorsey is leading the digital payment company, Square along with the microblogging and social networking platform and Singer had demanded him to step down from either of the two. 

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