A day after it was revealed that he had the largest stake in Twitter, just over 9% of the shares, Elon Musk joined the company’s board.
The Tesla and SpaceX founder will serve on the board until at least 2024, according to a regulatory filing.
As a stipulation of his membership on the board, Musk will not be allowed to own more than 14.9% of Twitter shares while on the board and for three months after his departure from the board. ‘administration.
Following the announcement, Musk tweeted, “I look forward to working with Parag & Twitter board to deliver meaningful improvements to Twitter in the months ahead!
“Excited to share that we are appointing @elonmusk to our Board of Directors!” tweeted Twitter CEO Parag Agrawal. “Through conversations with Elon over the past few weeks, it has become clear to us that he will bring great value to our board.”
“He is both a passionate believer and intense critic of service, which is exactly what we need on @Twitter and in the boardroom, to make us stronger in the long run. Welcome Elon!”
In recent weeks, Musk, who is an active Twitter user with more than 80 million followers, has questioned the platform’s commitment to free speech and the First Amendment to the US Constitution.
He recently conducted a poll on Twitter asking users if they felt the same way. Over 2 million people responded, with more than 70% saying Twitter does not support free speech.
Shares of Twitter have surged since Musk acquired about $3 billion worth of stock in the company.
Some information in this report comes from The Associated Press.