Twitter CEO Parag Agrawal has just announced that Elon Musk has been appointed to the board of directors after buying 9.2% of the company.
Musk is now the largest shareholder in Twitter after his huge buy.
The move could see a huge shift in the social media landscape as Musk has publicly called for more, not less, free speech on the platform.
Many took this as a sign President Donald Trump, the clear king of Twitter, may soon return to the platform after being banned.
Facebook will also rule soon on whether Trump is allowed back on that platform as that ban was temporary.
Agrawal said: “I’m excited to share that we’re appointing @elonmusk to our board!
“Through conversations with Elon in recent weeks, it became clear to us that he would bring great value to our 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. Welcome Elon!”
Musk said:
“Looking forward to working with Parag & Twitter board to make significant improvements to Twitter in coming months!”
Rep. Lauren Boebert (R-CO) said:
“Now that @ElonMusk is Twitter’s largest shareholder, it’s time to lift the political censorship.
“Oh, and BRING BACK TRUMP!”
I’m excited to share that we’re appointing @elonmusk to our board! Through conversations with Elon in recent weeks, it became clear to us that he would bring great value to our Board.
— Parag Agrawal (@paraga) April 5, 2022
Looking forward to working with Parag & Twitter board to make significant improvements to Twitter in coming months!
— Elon Musk (@elonmusk) April 5, 2022
Free speech is essential to a functioning democracy.
Do you believe Twitter rigorously adheres to this principle?
— Elon Musk (@elonmusk) March 25, 2022
From CNBC:
Former chief Jack Dorsey praised the move, saying in a tweet Musk “cares deeply about our world and Twitter’s role in it.”
Musk’s term is set to expire in 2024, according to a filing with the SEC.
For his entire board term or 90 days after, Musk cannot be the beneficial owner of more than 14.9% of the company’s common stock outstanding.
Musk’s purchase comes after a bout of criticism aimed at the social media company.
The outspoken Tesla CEO polled people on Twitter last month about whether it adheres to free speech principles.
He added that he was considering building a new social media platform.
After he was named to the board, Musk on Tuesday teased he would push for adjustments to the product.
“Looking forward to working with Parag & Twitter board to make significant improvements to Twitter in coming months!” Musk said in a tweet.
