Summary
Elon Musk has settled a lawsuit with four former Twitter executives over unpaid severance related to his purchase of the company. The executives claimed they were fired without reason and denied severance payments. The terms of the settlement were not made public.
Key Facts
- Elon Musk is the owner of Twitter, now called X, and also leads SpaceX and Tesla.
- The lawsuit was for $128 million and involved four former Twitter top executives, including former CEO Parag Agrawal.
- The executives claimed they were owed one year's salary and stock awards under a severance plan.
- The lawsuit alleged that Musk's actions were part of a pattern of not paying former employees what they were due.
- Musk initially attempted to back out of buying Twitter but completed the purchase for $44 billion in 2022.
- After the purchase, Musk fired these top executives and cut Twitter's workforce by more than half.
- Musk and X previously settled another lawsuit with around 6,000 former Twitter employees over unpaid severance of $500 million.
