Former Twitter Executives File $128 Million Lawsuit Against Elon Musk

Four ex-Twitter execs sued Elon Musk on Monday. They claim he withheld $128 million in severance pay after firing them in his 2022 takeover. Musk axed Parag Agrawal, Ned Segal, Vijaya Gadde, and Sean Edgett when he bought Twitter for $44 billion. He renamed it X.

The execs had contracts entitling them to severance if Twitter went private. Musk made it private in October 2022, triggering the payments. The lawsuit, filed in U.S. District Court, alleges they were owed a year’s salary plus unvested stock.

Musk claimed he could fire them “for cause” to avoid paying severance. He admitted he planned to deny their payments, saving $200 million. He vowed to pursue them endlessly.

The execs’ lawyers criticized Musk’s tactics in court filings. They accused him of withholding owed money and making them sue him to get it. They had previously sued him for legal fees related to investigations, winning $1.1 million in October.

X’s rep and Musk’s lawyer did not respond to requests for comment.

News

Unlikely Industry Player Anguilla Profits Big from A.I. Boom

Artificial intelligence’s integration into everyday life has stirred up doubts and unsettling questions for many about humanity’s path forward. But in Anguilla, a tiny Caribbean island to the east of Puerto Rico, the A.I. boom has made the country a fortune. The British territory collects a fee from every registration for internet addresses that end […]

Read More
News

China Surpasses U.S. in A.I. Talent: A Key Metric

China lags behind the United States in artificial intelligence that powers chatbots like ChatGPT but excels in producing scientists behind new humanoid technologies. New research reveals that China has surpassed the United States as the biggest producer of A.I. talent. The country generates almost half the world’s top A.I. researchers, compared to 18 percent from […]

Read More
News

Brands Brace for Impact as TikTok Faces Criticism

Amid debate in Washington over whether TikTok should be banned if its Chinese owner doesn’t sell it, one group is watching with particular interest: the many brands — particularly in the beauty, skin care, fashion, and health and wellness industries — that have used the video app to boost their sales. Youthforia, a makeup brand […]

Read More