When the IIT Bombay graduate Parag Agarwal was hired, his salary was around Rs 8 crore apart from the restricted stock units valued at around Rs 94 crore. Overall, the IITians salary package was more than Rs 100 crore.
IIT graduates are spearheading few of the biggest companies across the globe right now. Known for their vision, hard work and out of the box thinking, IIT graduates easily land high-paying jobs right after their graduation. One such IIT graduate Indian genius was hired with a massive salary package of Rs 100 crore, however he was fired within a year. Until now, there were many theories circulating on the internet suggesting the reason behind firing of IIT graduate with a Rs 100 crore salary package. Joining the wagon, is first excerpt from upcoming book of Bloomberg’s Kurt Wagner, revealing the key reason behind sacking of IIT graduate. The IIT graduate that we are talking about is Parag Agarwal who made it to the headlines and was trending all across the globe when he was hired as Twitter CEO. When the IIT Bombay graduate Parag Agarwal was hired, his salary was around Rs 8 crore apart from the restricted stock units valued at around Rs 94 crore. Overall, the IITians salary package was more than Rs 100 crore. Although it is known that IIT graduate Parag Agarwal was fired after Twitter was acquired by Elon Musk, the reason behind the sacking is now revealed in a new book. As per an excerpt published by Wagner’s employer, before the Twitter buyout deal, Parag denied Elon Musk’s request to block the account that was tracking the location of the billionaire's private jet.
IIT graduate Parag Agarwal’s denial to block the account led to Elon Musk purchasing Twitter in a massive Rs 336000 crore deal, the excerpt reveals. As soon as Musk joined Twitter, he sacked Parag Agarwal and the account tracking location of billionaires’ jets was blocked. Parag Agarwal is now reportedly venturing into the AI segment and has already secured big funding of Rs 249 crore. IIT graduatel’s startup is reportedly building software for developers of large language models, popularised by OpenAI’s chatbot ChatGPT. As per the report, Vinod Khosla-led Khosla Ventures, an early backer of OpenAI, led the funding in Agrawal’s company. Apart from this, Index Ventures and First Round Capital, also reportedly participated in the deal.
Born in Ajmer, Parag Agrawal was part of a well-educated family. His father was a senior official in the Indian Department of Atomic Energy and his mother is a retired Economics professor. Agrawal completed his graduation from IIT Bombay in 2005 after securing 77 all India rank (AIR). Later he went to the United States to pursue a PhD in computer science at Stanford University.
Before joining Twitter in 2011, Agrawal did internships at Microsoft Research and Yahoo. After working at Twitter for around 6 years, he was appointed as chief technology officer following the departure of Adam Messinger.