Politics
Elon Musk joins Twitter’s board of directors after acquiring 9% stake
A day after it turned public that he purchased a 9% stake in Twitter, Tesla Chief Govt Elon Musk is now additionally set to affix the social media platform’s board of administrators, in keeping with new regulatory filings.
A report filed Tuesday with the U.S. Securities and Alternate Fee states that on the day earlier than, Twitter agreed to appoint Musk to its board “with a time period expiring on the Firm’s 2024 Annual Assembly of Stockholders.” For that interval, plus 90 further days, Musk is not going to grow to be the proprietor of greater than 14.9% of Twitter’s excellent inventory, the settlement states.
Musk’s intentions along with his stake within the social media platform stay unclear. He’s now the corporate’s largest stakeholder, however his funding is a passive one, which means that he isn’t allowed to pursue management over the corporate.
But the tech magnate has already hinted that he’s sad with how the platform handles free speech points, maybe setting the stage for some form of activism across the website’s content material moderation coverage.