Former Twitter CEO Omid Kordestani has sued the social media company, alleging that its billionaire owner Elon Musk is refusing to pay him more than $20 million in shares owed to him.
Kordestani served as the company’s executive chairman from 2015 to 2020 and remained on the board for another two years until Musk bought the platform for $44 billion. In the complaint, he said most of his compensation was in stock, which he claims Musk is refusing to pay.
The former CEO’s attorneys say X Corp., as Musk renamed the company, wants to “profit from Mr. Kordestani’s seven years of service to Twitter without paying him for it.”
The lawsuit, filed in California Superior Court in San Francisco, is the latest in a series of legal actions taken against Musk by former Twitter executives since he took over. In March, four former executives sued Musk for allegedly withholding more than $128 million in severance pay after they were forced out of the company.
X declined to comment.
Before joining Twitter, Kordestani was a long-time business executive at Google, a subsidiary of Alphabet Inc.
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