Elon Musk Lands on Twitter’s Board as a New, Key Shareholder

Elon Musk Lands on Twitter’s Board as a New, Key Shareholder

April 5, 2022 0 By Carrie Mihalcik

Angela Lang/CNET

A day after it was revealed that Elon Musk has taken a large stake in Twitter, the Tesla and SpaceX CEO was welcomed to the social network’s board of directors. On Tuesday, Twitter CEO Parag Agrawal said in a tweet that Musk would be appointed to the company’s board.

“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,” said Agrawal. “Welcome Elon!”

Musk responded on Twitter, saying he was looking forward to helping make “significant improvements” to Twitter in the coming months. The Tesla chief took a 9.2% stake in the social media site, making him the social network’s biggest shareholder. Twitter’s stock soared more than 27% on Monday following the news, closing at $49.97.

Musk is one of Twitter’s most prolific users but has also been critical of the platform. On Tuesday, he polled his 80.5 million followers, asking if they wanted an edit button, a long-requested feature that has never materialized. Agrawal retweeted the poll, saying the the “consequences” of it will be important.

More to come.

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