After investing 2.7 billion euros to enter the capital of Twitter, Elon Musk has just officially obtained his seat on the board of directors of the social network. From now on, the billionaire will have his say on the future of Twitter and on any changes to be made to its operation.
As you may know, Elon Musk occupied the media scene this Monday, April 4, 2022. To everyone’s surprise, the CEO of Tesla entered the capital of Twitter. Thanks to the purchase of 73.5 million common shares of the social network for an amount of €2.7 billionthe billionaire now represents 9.2% of the capital of Twitter. Of course, this news sent Twitter’s stock price skyrocketing on Wall Street, gaining more than 25%.
The same evening, Elon Musk took a stand by publishing a poll to find out if users wanted to be able to edit their tweet after posting. The question is not trivial, Elon Musk referring here to a feature that has been requested for ages by the community, without success. Unsurprisingly, the yes won.
Also read: Elon Musk sells more than 3 million shares of Tesla following a Twitter poll (phonandroid.com)
Elon Musk continues his conquest of Twitter
Nevertheless, difficult to know that it was going to be the next step of the boss of SpaceX. We now know. Indeed, Twitter has just officially announced the arrival of Elon Musk in the board of directors of the social network. Usually, it is necessary to hold at least 10% of the capital to claim a seat in the management board, but Elon Musk has obviously negotiated the thing with the leaders of the blue bird.
Indeed, the richest man in the world has pledged not to raise his stake above 14.9% in exchange for a seat on the board. This announcement was made by Parag Agrawal himself, the current CEO of Twitter: “In our 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 an enthusiast and a fierce critic of our service, which is exactly what we need to grow stronger in the long run.” he assures.
To which Elon Musk replied: “I look forward to working with Parag and the other administrators to significantly improve Twitter in the months to come”. So what could Elon Musk’s first step as a Twitter board member be? According to the previously published survey, editing after publication seems the most likely lead.
Source: Le Figaro