After purchasing a considerable common stock of Twitter, Elon Musk is now appointed as one of the board of directors of the company.
This announcement comes from a filing with the SEC and was later confirmed by the Twitter CEO. As per it, Elon Musk is defined as a Class II director, whose term is until 2024’s shareholders’ meeting. Until then, Musk can involve in the critical decision-making sessions of Twitter, and input his suggestions.
Elon Musk on Twitter’s Director Chair
Not long ago, we’ve seen Elon Musk asking his Twitter community whether the platform is adhering to the free speech principles or not. And soon after that, he even expressed ideas of building his own social media platform that may justify the above belief.
And this week, we see him buying a significant part of Twitter ! Elon Musk yesterday announced that he bought about 9.2% of Twitter’s common stock, making him the largest single shareholder of the company. And that’s more than 4x of what Jack Dorsey holds, Twitter’s former CEO and founder.
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. — Parag Agrawal (@paraga) April 5, 2022
