On Tuesday, 5 April 2022, Elon Musk was announced as the latest board member of Twitter, with four times the share that former CEO and co-founder Jack Dorsey has.
Elon Musk Twitter board appointment has been a trending topic for a couple of reasons. One is that it once again affirms just how rich the Tesla CEO is. While Musk’s stake in the social media company is 9.2% of the total shares, it is equivalent to 73.5 million shares and worth about $3.7 billion as of Tuesday.
Besides having enough money to make more money, there is also the issue of Twitter’s censoring. Anyone who follows the tech billionaire knows how much he loves controversies, among other things.
He has been in trouble several times for his tweets, including a 2019 post that drove Tesla’s stock up and pitted him against his archenemies, the SEC.
So, it is no wonder why many have asked if Elon Musk will get a free pass to tweet anyhow he likes. However, Twitter has assured users that its rules will apply to their latest board member the same way they apply to the common person. This is quite interesting as we have rarely seen Twitter board members use the platform as much as Jack Dorsey – and now, Elon Musk.
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Besides his fun side, other board members likely see his expertise as a seasoned tech boss with a track record of over ten major companies and growing. No wonder Twitter CEO Parag Agrawal said he is excited to welcome Musk to the board.
“Through conversations with Elon in recent weeks, it became clear to us that he would bring great value to our Board,” he explained.
In addition, while Elon Musk’s stake in Twitter has been described as ‘passive,’ there are theories that the SpaceX boss could leverage his position to own a more active stake and even make a run for complete ownership.
Well, that has not happened yet, and Elon Musk does not own Twitter. But, he does own the largest amount of stock, according to Wall Street Journal’s article on the top 10 Twitter largest shareholders.
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