Getting fired by Musk will make top executives very rich.
After a few months in which he tried to back out of a deal to buy the company for $44 billion, Musk finally agreed to buy it again. Musk is expected to cut the workforce now that he's in charge.
Although the amount of Musk's intended cuts is unclear, any such move is expected to include most of the C-suite. The CEO, CFO, and top lawyer left on Thursday.
If Musk fires the executives, they will get some of the largest payouts they have ever seen. There are provisions disclosed in the regulatory filing.
The portion of his shares that vested upon his firing will result in the largest payouts of $38.7 million.
Ned Segal is set to get $25.4 million for being fired from the company.
The chief legal officer is leaving with over $12 million.
Sarah Personette is the chief customer officer.
In the months between Musk taking a large investor stake in the company and becoming its new owner, the executives of the company have remained largely silent. Musk announced his intent to take over the company after he was chastised for his public comments about the platform. Musk will have to make a payment on his way out.
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