Elon Musk Named To Twitter Board Of Directors After Stock Purchase

A few days after becoming the largest shareholder of Twitter, Elon Musk was welcomed to the board of directors of the social media company.

Well … it did not take long.

Just yesterday, posted about it Tesla CEO Elon Musk bought 9.2% of Twitter shares, making him the sole sole shareholder of the social media platform (and if you haven’t caught this update, don’t worry. You can Read it here.)

There have been wild speculations about the Musk Man’s next move. Will he move from a passive investor no Activist An investor? Will he still continue his musings about creating his own competing social media platform? Will he take over the company by continuing to buy shares?

Well, right now, it looks like every potential conspiracy to take over Twitter is on hold … if that happens at all.

Because now Musk may not even need to do that.

On Tuesday morning, Twitter executives announced that they were appointing Elon Musk to their board of directors.

I guess if you can not beat them, join them, as they say.

Twitter CEO Farag Agrwal first posted the news, tweeting: “Through conversations with Elon in recent weeks, it has become clear to us that he will bring great value to our board of directors.”

Agarwal added, “He is both an avid believer and an intense critic of the service which is exactly what we need on Twitter and the conference room to strengthen us in the long run. Welcome, Elon!”

Twitter founder, former CEO and resident hippie, Jack Dorsey, praised the board’s decision, tweeting that Musk “very much cares about our world and the role of Twitter in it.”

Is it just me, or do the big ones at Twiddledom seem to be doing just a little bit also Friendly to Mr. Musk?

It’s almost like they’re playing 4D chess and trying to calm Musk’s ego so he does not progress with an internal takeover plan.

Maybe it’s just the cynical side of me … but according to social media, I’m not the only one who thinks like that …

However, that may be exactly what is happening given a report from CNBC in which the financial network reported, “Musk’s term is due to end in 2024, according to Filing with the SEC. Throughout his tenure or 90 days thereafter, Musk could not be the beneficial owner of more than 14.9% of the company’s ordinary shares. “

Oh, now everything makes sense.

By Musk’s name to the Twitter board of directors limited the number of shares he could buy to 14.9%, thus allowing him to become a majority stakeholder in the company.

pain. Indeed wise.

The latest bombing news follows Monday’s news that Musk has bought a large stake in Twitter.

I know, Elon Musk’s news cycle is hard to keep up with. It moves faster than one of its SpaceX rockets.

A Filing a Securities Authority Confirmed that Musk has taken 9.2% of the company worth $ 2.89 billion, making it the sole sole shareholder of the platform.

And investors reacted positively to the news, causing Twitter shares to rise up to 26% on Monday, which is Twitter’s biggest intraday rise. In more than four years.

Elon Musk may leverage his shareholder position to ensure Twitter does a better job while adhering to the principles of free speech, an issue he feels very strongly about.

Or maybe he has a more satanic takeover plan that we still do not know about (my dark side hopes this is true because it will give me more juicy material to write about).

Maybe we do not know what old Elon is up to for a while given his history of trivial tweets. But for now, we can say welcome to the Twitter board, Mr. Musk!

Elon Musk Named To Twitter Board Of Directors After Stock Purchase Source link Elon Musk Named To Twitter Board Of Directors After Stock Purchase

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