Elon Musk joins Twitter’s Board of Directors: Elon Musk, founder and CEO of Tesla Inc. and SpaceX, is joining Twitter’s board of directors. Twitter has disclosed this through a securities filing on Tuesday. Apart from this, Twitter CEO Parag Agrawal and Elon Musk have also given information about this by tweeting. Let us tell you that a day earlier, Elon Musk has bought a 9.2 percent stake in Twitter, that is, about 7.35 crore shares. Musk’s stake in Twitter is being considered a passive investment. This means he wants to remain an investor for the long term.
Twitter on Monday entered into an agreement with Elon Musk to join the board of directors. Under the agreement, Musk’s term will end with the company’s annual shareholders meeting in 2024. Musk will not be allowed to buy more than 14.9 percent of Twitter’s outstanding stake, either singly or as a group member, for as long as he is a member of the board, and for 90 days thereafter.
What did CEO Parag Agarwal say?
Twitter CEO Parag Agarwal tweeted, ” I’m excited to share that we’re appointing @elonmusk to our board! Through conversations with Elon in recent weeks, it became clear to us that he would bring great value to our Board.” He added, “He’s both a passionate believer and intense critic of the service which is exactly what we need on @Twitter, and in the boardroom, to make us stronger in the long-term. Welcome Elon!”
In response to Parag Agarwal’s tweet, Elon Musk replied, “Looking forward to working with Parag & Twitter board to make significant improvements to Twitter in coming months!”
Became the largest shareholder
Elon Musk has become its largest shareholder by buying a 9.2 percent stake in Twitter. Earlier in the day, Elon Musk put out a poll on Twitter, in which he asked users whether they wanted the edit button on Twitter or not. Musk questioned Twitter’s ability to have a free dialogue last month, tweeting about how to speak freely. In another tweet, Musk said that he is seriously considering building a new social media platform.