Elon Musk has made it pretty clear when he takes over Twitter; that the gravy train is over for the board of directors and some executives. Musk has vowed to cut costs and has said the board members can look forward to making nothing for their service.
Forbes reported how current Twitter board members and executives are paid compared to other social media and tech companies, and the results were interesting.
Twitter board members currently make $290,000 per year. A little less than board members are paid at Alphabet ($400K) and Meta (almost $800K in total compensation).
How about Parag Agrawal, the CEO at Twitter whose days appear to be numbered as Musk looks for a leader a bit more talented and dynamic. He’s making $30 million, or roughly the price an NFL team pays for a functional starting quarterback.
In comparison, Mark Zuckerberg took home $27 million in total compensation. Evan Spiegel of Snap made about $3.3 million in 2021, and Sundar Pichai of Alphabet made in the neighborhood of $6.3 million. Keep in mind that Agrawal is an employee, not a visionary like Zuck and Spiegel, who founded their companies, so they have billions in company stock on top of their smaller salaries.
According to Forbes, other C-Suite execs at Twitter, including the CFO and head of the legal department, took home between $16 million and $19 million. Similar execs at Snap earned $10 million, and at Alphabet, the pay was closer to $30 million.
Meta COO Sheryl Sandberg keeps getting paid like she’s Adam Sandberg, and her total compensation, according to filings, was $35 million.
Last year, total stock-based compensation at Twitter was $630 million, compared to $9.16 billion at Meta, $10.89 billion at Alphabet, and $1.09 billion at Snap.
Part of the criteria for Musk getting the $44 billion in funding he needed was that he convinced the banks he would be cutting costs and turn Twitter into something Agrawal has failed at, making it profitable.
The post Director’s Cut. How Does Pay For Twitter Board Members And Execs Compare To Other Tech Giants? appeared first on VTPost.com.
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