Elon Musk sued by former Twitter board member Omid Kordestani over shares

X owner Elon Musk was sued by a former Twitter board member, Omid Kordestani, who said he was owed more than $20 million in shares that the billionaire had not given him, per The New York Times.

Kordestani had been part of Twitter’s board since 2015, and was an executive chairman until 2020. In 2022, when billionaire Elon Musk proceeded to buy the social media platform for around $44 billion, Kordestani helped in the process.

(Unravel the complexities of our digital world on The Interface podcast, where business leaders and scientists share insights that shape tomorrow’s innovation. The Interface is also available on YouTube, Apple Podcasts and Spotify.)

However, the former Twitter board member claimed that Musk did not pay him for the shares he received as compensation. He was largely compensated with stock, per the lawsuit.

Kordestani was formerly a chief business officer at Google.

He held 800,000 Twitter stock options worth over $20 million, per The New York Times.

The lawsuit was filed in California Superior Court in San Francisco

Disclaimer: The copyright of this article belongs to the original author. Reposting this article is solely for the purpose of information dissemination and does not constitute any investment advice. If there is any infringement, please contact us immediately. We will make corrections or deletions as necessary. Thank you.
You might also like