Twitter Announces, Elon Musk Will Join, the Company's Board of Directors.
Twitter Announces, Elon Musk Will Join, the Company's Board of Directors.
ABC reports that Elon Musk will join Twitter's board of directors.
The news comes just one day after the world's richest man purchased a 9% stake in the social media platform.
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On April 5, Twitter Inc.
Said in a regulatory filing that Musk's term on the board will expire at the company's 2024 annual shareholder meeting.
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According to the agreement, Musk won't be able to purchase more that 14.9% of Twitter's outstanding stock while serving on the board or for 90 days after.
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According to the agreement, Musk won't be able to purchase more that 14.9% of Twitter's outstanding stock while serving on the board or for 90 days after.
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Twitter CEO Parag Agrawal shared his support for Musk joining the social media company's board.
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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, Parag Agrawal, Twitter CEO, via ABC.
On April 4, Musk purchased 73.5 million shares in Twitter, estimated at about $3 billion.
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Shares of Twitter rose more than 6% in pre-market trading.
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In the past, Musk has openly questioned Twitter's dedication to free speech and the First Amendment.
Musk has yet to specifically discuss any rule changes that he intends to push at Twitter, though he did tweet that he is looking to make , "significant improvements to Twitter in coming months!".
Musk has yet to specifically discuss any rule changes that he intends to push at Twitter, though he did tweet that he is looking to make , "significant improvements to Twitter in coming months!".
ABC reports that Musk is currently involved in a bitter dispute with the SEC regarding his ability to post on Twitter.
ABC reports that Musk is currently involved in a bitter dispute with the SEC regarding his ability to post on Twitter.
According to Musk's legal team, the SEC has infringed on the billionaire's First Amendment rights.
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According to Musk's legal team, the SEC has infringed on the billionaire's First Amendment rights.
