Notice: Function _load_textdomain_just_in_time was called incorrectly. Translation loading for the updraftplus domain was triggered too early. This is usually an indicator for some code in the plugin or theme running too early. Translations should be loaded at the init action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /var/www/html/dev.webpronews.com/public_html/wp-includes/functions.php on line 6114

Warning: session_start(): Session cannot be started after headers have already been sent in /var/www/html/dev.webpronews.com/public_html/wp-content/themes/wpn_theme/templates/mc-sub-group.php on line 2
Elon Musk Joining Twitter Board in Bid to Block a Takeover «

Elon Musk Joining Twitter Board in Bid to Block a Takeover

Elon Musk's Twitter saga continues unabated, with the tech mogul being given a seat on the board in a bid to prevent a takeover of the company....
Elon Musk Joining Twitter Board in Bid to Block a Takeover
Written by Staff

Elon Musk’s Twitter saga continues unabated, with the tech mogul joining the board in a bid to prevent a takeover of the company.

Musk is an avid Twitter user, but that hasn’t stopped him from being critical of the company and advocating for change. He recently posted a poll asking if Twitter should be replaced, saying “the consequences of this poll will be important.”

Musk followed up by purchasing nearly 10% of the company’s stock, making him the largest single shareholder. Twitter wants to make sure its largest shareholder doesn’t become the majority shareholder, striking a deal to make Musk a board member, according to an SEC filing:

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.

Twitter CEO Parag Agrawal welcomed Musk in a tweet of his own:

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

Musk responded with promises of change:

Looking forward to working with Parag & Twitter board to make significant improvements to Twitter in coming months!

Elon Musk (@elonmusk), April 5, 2022

Only time will tell if Musk will be successful in changing how Twitter does things, but our money is on this saga being far from over.

Subscribe for Updates

CEOTrends Newsletter

Articles for CEOs

By signing up for our newsletter you agree to receive content related to ientry.com / webpronews.com and our affiliate partners. For additional information refer to our terms of service.
Get the WebProNews newsletter delivered to your inbox

Get the free daily newsletter read by decision makers

Subscribe
Advertise with Us

Ready to get started?

Get our media kit