Elon Musk reaches settlement in $128,000,000 lawsuit after fired Twitter CEO sued him
Musk made mass layoffs after acquiring Twitter in 2022
Featured Image Credit: Andrew Harnik/Getty Images
Elon Musk has reached a settlement in a huge lawsuit after the fired CEO of Twitter sued him.
The Tesla boss was locked in a dispute for $128 million over severance pay for the fired executives of Twitter.
This came after Musk bought the social media platform back in October 2022 and renamed it to X.
After acquiring Twitter, Musk made mass layoffs, including CEO Parag Agrawal, Chief Financial Officer Ned Segal, Chief Legal Officer Vijaya Gadde and General Counsel Sean Edgett.
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Then, in March 2024, the executives filed a lawsuit against Musk and X to seek damages for severance pay they argued that they were owed.
In the lawsuit, it claimed that Musk had ‘decided he didn’t want to pay Plaintiffs’ their severance benefits so he ‘simply fired them without reason, then made up fake cause and appointed employees of his various companies to uphold his decision’.
In court documents, it was revealed that Musk and his platform had reached a settlement that ‘requires certain conditions to be met’.
The monetary amount that the case was settled for has not been made known to the public.
In other news, this month Musk became the first person on the planet to reach a wealth of $500 billion.
It’s expected that the SpaceX founder will one day become the world’s first trillionaire as his wealth continues to grow.
And it turns out that the world’s richest man has enough money to distribute a chunk to every person on the planet.
But how far would the mogul’s money stretch if split among the 8.1 billion people populating the world? It turns out that artificial intelligence may have the answer.
After some calculations, ChatGPT determined that Musk has enough money that, when handed out to every person on Earth, each individual would receive $61.73.
While that isn’t exactly a life-changing amount, other causes could benefit from the serious cash.
With $500 billion, you’d have enough to end extreme poverty across the entire planet, ensuring that all people live above a very low income threshold.
It could also go towards providing climate adaptation in developing countries, with $500 billion covering the costs of building dam systems, flood protection, resilient agriculture, and water infrastructure.
According to AI, the money could also end global hunger and seriously improve food security around the world.
This is because half a trillion could be put towards improving agricultural productivity to ensure there is enough nutritious food to go around and reduce food waste.