Tesla CEO, Elon Musk has acquired a 9.2% in Twitter this week instantly making him the largest shareholder the company has. As a result, the shares of Twitter have increased by 27% since and his stake in the company is worth around $2.89 billion.
As a result of acquiring a stake in Twitter, Elon Musk has also joined the board of Twitter giving him the ability to influence some of the company’s decisions, his term on the board will expire in 2024.
New Twitter CEO Parag Agrawal has said that in talking with Elon Musk over the past few weeks, it has become clear that Elon would be a good addition to the board of Twitter.
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
So far, Elon has polled his follows on their opinions about whether the platform should have an edit button and earlier this week, Twitter announced it would be adding one.