Elon Musk joined Twitter’s board after acquiring a 9.2% stake in the company, according to a stock exchange announcement in the SEC.
At the same time, Twitter CEO Parag Agraval welcomed the Board. the powerful Tesla man, with his suspension in the middle.
“Through talks with Elon in recent weeks, it has become clear to us that you will add great value to our board,” wrote P. Agraval.
“He is also a passionate supporter of the service and a strong critic of it, which is exactly what we need on Twitter and in the conference room to make us stronger in the long run,” 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!
– Parag Agrawal (@paraga) April 5, 2022
After yesterday’s brutal 27% rally, Twitter’s share continues to rise further more than 8% shortly before the start of the meeting on Wall Street, in the aftermath of Musk’s membership in the Board. the company’s.
Musk will serve as a Class II director on the board, with his term ending in 2024, according to the announcement.
During his term and 90 days thereafter, Musk may not own more than 14.9% of the common stock of the company.
It is recalled that yesterday it became known that the head of Tesla acquired about 73.4 million shares of Twitter, worth about $ 3 billion.
A few hours later he even posted a poll on Twitter asking users if they want a button to edit content in the media.
Overall, Elon Musk is an active Twitter user, with more than 80 million followers. He had not recently expressed his displeasure that, according to him, Twitter “failed to secure the principles of freedom of speech”, which “fundamentally degrades democracy”.
Source: Capital
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