Elon Musk joins Twitter's board day after disclosing stake in platform

Musk, either alone or as a member of a group, won't be allowed to own more than 14.9% of Twitter's outstanding stock for as long as he's a board member and for 90 days after.

Online Desk

Updated:5th Apr, 2022 at 6:57 PM

CHENNAI: Elon Musk is joining Twitter's board of directors a day after disclosing that the Tesla CEO took a 9% stake in the social media platform.

Twitter Inc. said in a regulatory filing Tuesday that it entered into an agreement with Musk on Monday that will give the billionaire a seat on its board, with the term expiring at its 2024 annual shareholders meeting.

"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," Twitter CEO Parag Agrawal tweeted.

Musk, either alone or as a member of a group, won't be allowed to own more than 14.9% of Twitter's outstanding stock for as long as he's a board member and for 90 days after.

Elon Musk joins Twitter's board day after disclosing stake in platform

Musk, either alone or as a member of a group, won't be allowed to own more than 14.9% of Twitter's outstanding stock for as long as he's a board member and for 90 days after.

Also Read

Dengue cases rise to 16,577 in Tamil Nadu; 244 infections reported in a day

Tiger suspected of killing two persons trapped after 28-day search in Gudalur

BJP functionary seeks action against state general secretary

NIA court sentences eight Bangladeshis to life imprisonment in human trafficking case

Asian Games: Charani, Shafali shine as India outclass Japan to enter semis