{"id":253174,"date":"2024-08-10T15:48:32","date_gmt":"2024-08-10T15:48:32","guid":{"rendered":"https:\/\/michigandigitalnews.com\/index.php\/2024\/08\/10\/elon-musks-x-sued-by-ex-twitter-chair-for-20-million-in-shares\/"},"modified":"2025-06-25T17:12:36","modified_gmt":"2025-06-25T17:12:36","slug":"elon-musks-x-sued-by-ex-twitter-chair-for-20-million-in-shares","status":"publish","type":"post","link":"https:\/\/michigandigitalnews.com\/index.php\/2024\/08\/10\/elon-musks-x-sued-by-ex-twitter-chair-for-20-million-in-shares\/","title":{"rendered":"Elon Musk’s X sued by ex Twitter chair for $20 million in shares"},"content":{"rendered":"

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Former Twitter<\/a> Chairman Omid Kordestani sued the social media company, claiming that billionaire owner Elon Musk is refusing to cash out more than $20 million worth of shares he is owed.<\/p>\n

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Kordestani served as the company\u2019s executive chairman from 2015 to 2020 and stayed on the board for two more years, until Musk bought the platform for $44 billion. He said in the complaint that the bulk of his compensation was stock, which he says Musk is refusing to pay out.\u00a0<\/p>\n

Lawyers for the former chairman claim that X Corp., as Musk renamed the company, is seeking to \u201creap the benefits of Mr. Kordestani\u2019s seven years of service to Twitter without paying him for it.\u201d<\/p>\n

The lawsuit, filed in California Superior Court in San Francisco, is the latest in a series of legal actions taken against Musk by former leaders at Twitter since he took over. In March, four ex-executives\u00a0sued Musk<\/a>\u00a0for allegedly withholding more than $128 million in severance payments after they were ousted from the company.<\/p>\n

X declined to comment.<\/p>\n

Before his time at Twitter, Kordestani was a longtime business leader at Alphabet Inc.\u2019s Google<\/a>.<\/p>\n<\/div>\n<\/div>\n

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