Breaking!!! Elon Musk To Join Twitter Board Of Directors ‘Exactly What We Need’ Says CEO

Elon Musk Buys $2.4B In Twitter Stock – Becomes 'Largest Shareholder'

SAN FRANCISCO, CA. (THECOUNT) — Billionaire Elon Musk will be a part of Twitter’s board of administrators after taking a 9.2% stake within the social media firm, based on a launch filed with the SEC.

Shares have been up greater than 5% in premarket buying and selling.

“By conversations with Elon in current weeks, it turned clear to us that he would carry nice worth to our Board,” CEO Parag Agrawal mentioned in a tweet.

“He’s each a passionate believer and intense critic of the service which is precisely what we want on Twitter, and within the boardroom, to make us stronger within the long-term,” he added.

Musk will function a Class II director on the board, along with his time period expiring in 2024, based on the submitting. For his whole board time period or 90 days after, Musk can’t be the useful proprietor of greater than 14.9% of the corporate’s frequent inventory excellent, experiences CNBC.

Musk’s buy comes after a bout of criticizing the social media firm.