Twitter CEO Parag Agrawal announced Elon Musk is joining the Twitter board after he bought a 9% stake in the company.
Musk owns 73.5 million shares of Twitter valued at $2.92 billion.
Agrawal added, “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!”
Musk asked on Monday if people want an edit button. Over 3 million voted, 73% of whom voted yes.
Agrawal retweeted it, saying, “The consequences of this poll will be important. Please vote carefully.”
The SEC filing states that Musk’s term expires in 2024. He “cannot be the beneficial owner of more than 14.9% of the company’s common stock outstanding” the entire time he is on the board “or 90 days after.”
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