Elon Musk surprised everyone a few years ago when he announced he would be buying X (formerly known as Twitter). But then, Musk went on a firing spree, laying off a ton of employees, including former Twitter executives. Naturally, some of these execs weren’t thrilled and sued Musk over severance pay. Fast forward to today, Elon Musk and the former Twitter execs have agreed to settle for an undisclosed amount.

Elon Musk and Twitter execs settle over severance pay

For those unfamiliar with what went down, Former Twitter CEO Parag Agrawal, CFO Ned Segal, chief legal officer Vijaya Gadde, and general counsel Sean Edgett had originally filed a lawsuit against Musk for around $128 million in unpaid severance benefits. What happened was that when Musk acquired the company, he fired the executives in hopes of avoiding paying out their severance.

This was according to Walter Isaacson’s biography of Musk. According to Isaacson’s book, he quoted Musk as saying there was a “two-hundred-million differential in the cookie jar between closing tonight and doing it tomorrow morning.” Musk also closed the deal a day early to prevent them from having their stock options vested.

According to the group’s initial lawsuit, “Because Musk decided he didn’t want to pay Plaintiffs’ severance benefits, he simply fired them without reason, then made up a fake cause and appointed employees of his various companies to uphold his decision.”

However, it looks like we can finally close the books on that lawsuit. According to the latest legal filings, Elon Musk has agreed to settle with the Twitter execs. However, the exact amount is unknown. So, we’re not sure if these execs got what they were asking for, or if they got more, or maybe even less.

Huge changes since Musk took over

Twitter has changed dramatically ever since Musk took over. He not only rebranded it to X, but also introduced a bunch of changes and monetization features. This was to help the company raise its revenue. This included allowing users to “buy” verified account status. It was a huge departure from how Twitter used to handle it back in the day.

Back then, verified account status was not bought. Instead, it was only given to select individuals and organizations. It was meant to act as a way to reassure users that the accounts they are interacting with are actually who they say they are.
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