Elon Musk, the world’s richest man, has been announced as a new board member of Twitter. This is coming just after a recently released SEC filing showed that the Dogecoin and Bitcoin enthusiast purchased 73,486,938 unit shares of Twitter common stock, which is 9.2% of the total common stock in issuance.
The announcement was made by Parag Agrawal, the newly appointed CEO of Twitter on his Twitter page. He stated, “I’m excited to share that we’re appointing Elon Musk 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!”
What you should know
- Nairametrics previously reported on the SEC filing which revealed the billionaire had bought 9.2% of Twitter’s common stock on the 14th of March for $2.74 billion.
- This purchase announcement comes after Musk did a Twitter poll towards the end of March 2022. Musk took to his handle on the 24th of March, to run a poll, asking whether or not Twitter algorithm should be open source.
- He then did another poll the following day, asking whether or not Twitter rigorously adheres to the principle of free speech as essential to a functioning democracy. He then commented on his free speech poll stating, “The consequences of this poll will be important. Please vote carefully.”
- Before Musk was announced as the new board member of the social media giant, he did another pool yesterday, asking his 80.5 million followers if they wanted the social media application to have an edit button.
- Parag commented on this poll with sarcasm, stating, “The consequences of this poll will be important. Please vote carefully,” a reply similar to the comment Musk gave to his poll on the 25th of March 2022.
Twitter’s share price in the last one month is up by over 50%, with a majority of its gain coming in yesterday when the SEC filing was released. At the time of this writing, Twitter’s share price is up 9.83% in pre-market skirmish.
