Billionaire Elon Musk is being sued for more than $128 million in compensation

Twitter's board of directors has sued billionaire Elon Musk for severance pay of up to $128 million as per the contract between the parties.

The lawsuit was filed on March 4 in the U.S. District Court in San Francisco by lawyers representing former Twitter CEO Parag Agrawal and three other executives. The plaintiffs allege that the billionaire failed to honor a contract he negotiated with employees who were fired after Twitter’s $44 billion acquisition in October 2022.

Elon Musk is facing a series of lawsuits related to severance payments worth more than $500 million from former Twitter managers and engineers. (Photo: Reuters)

“This is what Musk faces when he owes people money. They have no choice but to sue,” said the lawyer representing Agrawal.

Former Twitter CEO Agrawal is set to be paid up to $30 million in 2021, his final year at Twitter. According to the lawsuit, Musk claimed in his firing letters that the executives were fired for “gross negligence” and “misconduct,” and therefore he did not pay them severance.

The plaintiffs claim that Twitter's new owners never made specific allegations about why they fired the former management and other employees.

The lawsuit also said Musk vowed to "take revenge" on Twitter executives after they blocked his attempt to back out of a takeover deal for the social network.

According to Forbes, Elon Musk's net worth is estimated at more than $200 billion. However, the American billionaire is facing a series of different lawsuits related to severance claims of up to $500 million from former Twitter managers and engineers, as well as multiple cases of alleged non-payment of obligations to contractors and partners.

“Musk refuses to pay his debts, insists the rules don’t apply to him, and uses his wealth and power to bully anyone who doesn’t comply with his demands,” Agrawal’s attorney added.

Tra Khanh (Source: russian.rt.com)

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