1 min read.Updated: 30 Nov 2021, 10:03 PM IST Edited By Vivek Punj
While some Indians celebrated and others joked about Agrawal's appointment, many were curious how much does he earn
Listen to this article
It's an inherent curiosity among Indians to know how big a paycheck one draws. This time, at the receiving end of this curiosity is the newly appointed Twitter CEO, Parag Agrawal, the latest entrant to the list of Indian-origin CEOs in global tech behemoths.
Twitter co-founder Jack Dorsey announced on Monday that he will step down from the position of CEO in the company. Agrawal, who so far has held the office of CTO in the social media giant, was appointed Dorsey's successor.
While some Indians celebrated and others joked about Agrawal's appointment, many were curious how much does he earn.
Google Trends showed that one of the top queries was about Parag Agarwal's salary. Other personal details of the new Twitter CEO were also enthusiastically searched with many looking at keywords like ‘Parag Agrawal net worth’. Some even took to social media to speculate and comment on Agrawal's salary as the new Twitter CEO.
According to the Agarwal's offer letter, he will drawing a base salary of $1 million as the Twitter CEO. And there are other bonuses and benefits too.
“Beginning on the start date, your base salary will be $1,000,000 per year. You will remain a participant in the Company’s executive bonus plan with a new target bonus percentage of 150 per cent of your annual base salary. Your actual earned bonus (if any) for 2021 will be based on the different salary and bonus percentages that applied before and after the start date. All earned bonuses (if any) will be subject to Twitter’s bonus plan as in effect from time to time," says Agrawal's new offer letter.
Agarwal has joined the club of Indian tech CEOs, which features the likes of Satya Nadella of Microsoft Corp., Sundar Pichai of Alphabet Inc., Shantanu Narayen of Adobe Inc., and Arvind Krishna of International Business Machines Corp. Only 37, he’s also the youngest CEO of any S&P 500 firm.
Agrawal got his engineering degree from the Indian Institute of Technology, Bombay. He also holds a doctorate in computer science from Stanford University.
Agrawal had joined Twitter 10 years ago as an engineer when there were fewer than 1,000 employees. Since then, he rose to the rank of Chief Technical Officer, and eventually became the Chief Executive Officer of the popular microblogging platform.