Elon Musk joins Twitter’s board after buying 9.2% of shares worth $2.9 billion

ELON MUSK joins Twitter’s board of directors after becoming the company’s largest shareholder.

Twitter CEO Parag Agrawal broke the news via the platform.

Musk has a net worth of over $260 billion

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Musk has a net worth of over $260 billion

agrawal tweeted “I am pleased to announce that we are appointing @elonmusk to our board! Through discussions with Elon over the past few weeks, we realized that he would bring great value to our board.”

Agarawal, who succeeded Twitter founder Jack Dorsey as CEO in 2021, added “He’s both a passionate believer and an intense critic of the service, which is exactly what we need @twitter, and in the boardroom to make us stronger in the long term. Welcome Elon!”

Musk’s new board seat adds another leadership role to his list of daily duties.

He also serves as CEO of both Tesla and SpaceX.

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In 2001, Musk was summarily ousted as PayPal’s CEO in a shift led by his internal rivals.

musk answered on Argawal’s announcement and tweeted back, “I look forward to working with the Parag & Twitter Board to make significant improvements to Twitter over the coming months!”

Twitter may undergo a makeover at the direction of its new investor.

Musk hinted at the idea of ​​introducing a long-awaited feature to the platform when he tweeted a poll Ask users if they want an edit button.

Musk, the richest man in the world, has been reported by regulators for using Twitter to inflate the share price of some of his own holdings and companies.

In the past, some have asked to boot it from the app.

But with Musk now controlling nearly 10% of the company, he’s locked into the Twitter verse.

With classic Muskian flare-ups, his investment in Twitter hasn’t gone without red flags.

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The Wall Street Journal reported that Musk’s filing for acquiring 9.2% of Twitter showed some inconsistencies regarding how much power he plans to exercise over the company.

The paperwork with the SEC was allegedly filed several days late, and it reportedly did not include certification of his passive status as an investor.

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https://www.the-sun.com/tech/5054245/musk-joins-twitter-board/ Elon Musk joins Twitter’s board after buying 9.2% of shares worth $2.9 billion

Chris Barrese

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