After Elon Musk complained about the money earned by Twitter executives, Forbes examined the fees paid to the executives of popular social media platforms. As a result of the investigations, it was revealed that the complaining attitude of the billionaire businessman was actually quite out of place. Because Twitter executives clearly earn less than their competitors.
One of the issues that the internet world has been talking about for a while is Elon Musk’s purchase of Twitter . Elon Musk is preparing to have the sole say in Twitter as part of the huge $44 billion deal, which is a harbinger of radical changes in the platform. A news shared by Reuters revealed that Elon Musk persuaded regulators to reduce costs in order to obtain financing . In a statement made by Elon Musk, it was stated that millions of dollars could be saved within the scope of a proposal for Twitter.
The developments are a clear indication that Elon Musk is complaining about the money earned by Twitter executives. In fact, this situation created uneasiness on the front of Twitter employees . However, a study by Forbes revealed that Elon Musk was not quite right about the issues he was complaining about. Because a comparison with Twitter’s competitors revealed that Twitter managers earn less money than their competitors . Let’s take a look at the money given to the executives by the giants in the technology sector.
Twitter paid its executives $630 million in 2021 alone
According to research by Forbes, Twitter spent $630 million for its executives last year . About $30 million of that was given to CEO Parag Agrawal. Other executives earned annual compensation in the $16 to $19 million range. You may think that these sums are quite high, but when we look at the situation with the competitors, we can see that Twitter is very tight-lipped about the money it spends for its executives.
How much did Twitter’s competitors pay their managers?
- Snap , which managed to surpass Twitter and Facebook in the number of active users , paid 3.3 million dollars to CEO Evan Spiegel last year. Although this fee is like a giant ear compared to the money received by the Twitter CEO, the total amount of money Snap paid to its executives amounted to $1.09 billion. That’s almost twice as much as Twitter. Because Snap paid other executives around 10 million dollars from stocks.
- Meta , which includes applications such as Facebook, Instagram and WhatsApp, made a $ 27 million payment to CEO Mark Zuckerberg. That’s less than Twitter CEO Agrawal’s salary, but Meta paid other executives between $24 million and $29 million from stocks, with a total of $9.16 billion in payments to executives.
- Alphabet , the parent company of Google , seems to be the internet giant with the most generous hands against its managers. Paying only $6.3 million to CEO Sundar Pichai, the internet giant paid its other executives around $28 million from stocks and bonuses, making the total payment amounting to $10.89 billion.
When we look at the shared data, we see that everything is obvious . Although Twitter paid $ 30 million to its CEO, Parag Agrawal, the total amount of money paid to executives remained at the level of $ 630 million. At this point, we can understand that Meta and Alphabet have a higher variety of services, and Twitter pays lower fees to its managers . However, when we compare the payment made by Snap with the payment made by Twitter, we can easily say that Elon Musk’s complaints are unfounded.