The Tesla top joins the board of social media after he bought 9.2 percent of the shares.
–
Elon Musk will have a seat in the boardroom at Twitter until the general meeting in 2024, the company writes in a recent announcement to the US Financial Supervisory Authority.
At the same time, he undertakes not to own more than 14.9 percent of the shares in Twitter as long as he is a board member, and 90 days thereafter.
The news comes a day after it became known that Musk had bought 9.2 percent of the shares in Twitter.
The stock is rising
Twitter shares rose 5 percent on Wall Street after the news became known. The day before, the share rose around 27 percent after the share purchase became known.
“Through conversations with Elon in recent weeks, it has become clear to us that he will bring great value to our board,” Twitter boss Parag Agrawal wrote in a tweet.
– He is both a passionate user and an intense critic of the service, which is exactly what we need in Twitter, and in the boardroom, to make us stronger in the long term, Agrawal writes in a follow-up message.
Musk, for his part, responds to the message by saying that he looks forward to working with the top manager and the board to make “significant improvements” on Twitter in the coming months.
Get support from Twitter entrepreneur
One of Twitter’s founders and major shareholder Jack Dorsey states that he is “very happy” that Elon Musk will be part of the company’s board.
Dorsey adds in a Twitter message that he believes Musk and Agrawal will be a good team.
–
