After buying a 9.2 percent stake in Twitter and becoming the platform’s largest shareholder, Tesla CEO and terminally online, middle-aged man Elon Musk will join Twitter’s board of directors.
According to a Securities and Exchange Commission (SEC) filing spotted by The Verge, Twitter appointed Musk as a ‘class II’ director until 2024. The Verge notes that type of position can be used as an anti-takeover measure.
“For so long as Mr. Musk is serving on the Board and for 90 days thereafter, Mr. Musk will not, either alone or as a member of a group, become the beneficial owner of more than 14.9% of the Company’s common stock outstanding at such time, including for these purposes economic exposure through derivative securities, swaps, or hedging transactions,” reads the filing.
Twitter CEO Parag Agrawal took to the platform to welcome Musk to the board, calling him “both a passionate believer and intense critic of the service.”
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!
— Parag Agrawal (@paraga) April 5, 2022
In a reply, Musk wrote that he was excited to work with the board and “make significant improvements to Twitter in coming months.”
Looking forward to working with Parag & Twitter board to make significant improvements to Twitter in coming months!
— Elon Musk (@elonmusk) April 5, 2022
It’s worth noting that Musk has previously accused Twitter of “failing to adhere to free speech principles” while contemplating creating a new platform. Given Musk’s failure to understand what free speech actually is, I have concerns about these incoming “improvements.”
That said, in yet another attempt to prove he’s cool, Musk launched a Twitter poll asking if people want an edit button with the seemingly deliberately misspelled options of “yse” or “on.”
Do you want an edit button?
— Elon Musk (@elonmusk) April 5, 2022
Plus, Agrawal jumped on, noting that the “consequences of this poll will be important,” suggesting the company may actually add an edit button.
The consequences of this poll will be important. Please vote carefully. https://t.co/UDJIvznALB
— Parag Agrawal (@paraga) April 5, 2022
So, maybe we’ll get something good out of Musk joining the Twitter board.
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