After officially becoming the first shareholder of Twitter, Elon Musk enters the board of directors. In just 24 hours, Elon Musk went from user to shareholder, then to leader of the social network, dubbed by his co-founder Jack Dorsey.
From shareholder to Twitter executive
It was Parag Agrawal, the CEO of Twitter, who announced the arrival of Elon Musk to the board of directors of Twitter. One would have thought that the social network would be reluctant to see the boss of SpaceX and Tesla become the majority. Person never imagined Twitter opening the doors of the board of directors to him. However, it is. Parag Agrawal states in his statement that he “spoken a lot with Elon Musk in recent weeks”. He says he enjoys his “social media reviews” which, according to the CEO of Twitter, seem to be going in the right direction.
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Jack Dorsey, former CEO and co-founder of Twitter, also went there with his little word of welcome. He said he was happy with the news, because ” [Elon] cares deeply about our world and Twitter’s role in it.” He reckons Parag Agrawal and Tesla CEO will be a team ” incredible “.
I’m really happy Elon is joining the Twitter board! He cares deeply about our world and Twitter’s role in it.
Parag and Elon both lead with their hearts, and they will be an incredible team. https://t.co/T4rWEJFAes
— jack⚡️ (@jack) April 5, 2022
In the document which makes it possible to formalize Elon Musk’s appointment to the board of directors of Twitter, it is specified that the billionaire is prohibited from owning more than 14.9% of the company. Evidence of mistrust? At any rate, everything happened very quickly for Musk. Monday April 4 in the morning he was still only a user of the platform. During the day, he became the largest shareholder of the social network with 9.2% of the shares (the equivalent of 2.6 billion euros). A few hours later, he becomes a manager of the company, with a seat on the board of directors.
Elon Musk, the new strong man of the social network
Meanwhile, the billionaire had fun proposing major changes for Twitter, such as a button to edit tweets, a sea serpent on the network for several years. He asked his community for their opinion on the matter. You could think he “trolled”, as usual. Still, that tweet felt more like a referendum to legitimize Musk in his new role as the platform’s majority shareholder and leader. The “yes” won at 73.6%. With 4.4 million participations, we can guess that the arrival of Elon Musk at the direction of Twitter is rather well received. Thoughtful strategy or not, Twitter officially announced the arrival of an “edit” button shortly after this plebiscite.
Do you want an edit button?
— Elon Musk (@elonmusk) April 5, 2022
Beyond the message, Elon Musk wishes to bring “significant improvements in the coming months”. If this takeover surprises and even makes you smile, it should have significant consequences for the future of Twitter. The boss of Tesla and SpaceX has promised to move the social network. With his 80 million subscribers, Elon Musk knows Twitter well and regularly points out the flaws of the platform. If his account is already among the ten most followed today, he could very quickly become the man to follow for information on the social network. A new page opens for Twitter.