Elon Musk joins Twitter’s board of directors after acquiring 9% stake

A day after it was revealed that he bought a 9% stake in Twitter, Tesla CEO Elon Musk is now also set to join the social media platform’s board, according to new regulations.

Report filed on tuesday with the U.S. Securities and Exchange Commission says that the day before, Twitter agreed to appoint Musk to its board of directors “with the expiration of the term at the company’s annual shareholder meeting in 2024.” The agreement says that during this period plus 90 additional days, Musk will not own more than 14.9% of Twitter’s outstanding shares.

“I am pleased to announce that we are appointing [Musk] to our board! tweeted Twitter CEO Parag Agrawal, who took on a leadership role in November after serving as CTO of the microblogging platform. “He is both a passionate believer and a fierce critic of the service, which is exactly what we need.”

Musk answered: “I look forward to working with [Agrawal and the] The Twitter board will make significant improvements to Twitter in the coming months!”

Twitter currently listings 11 other members on his board including Agrawal; co-founder and former CEO Jack Dorsey; and executives from Salesforce, Mastercard, and Stanford University.

Musk’s intentions for his stake in the social media platform remain unclear. the richest man in the world is currently the largest shareholder of the company, but his investments are passive, which means that he is not allowed to exercise control over the company.

Musk has already hinted that he’s unhappy with the way the platform handles free speech issues, perhaps setting the stage for some future activity regarding the site’s content moderation policy.

In a series of tweets published shortly after he bought his stake, the tech mogul wrote that Twitter “serves as a de facto public square” and therefore must “adhere to the principles of free speech” in the name of democracy.

“What must be done?” he asked. Is a new platform needed?

In an email to The Times, Twitter spokesman Adrian Zamora said the site’s policy decisions are not made by shareholders or the board of directors.

“Twitter is committed to impartiality in developing and enforcing its policies and rules,” Zamora said. “Our board plays an important role in advising and giving feedback throughout our service. Our day-to-day operations and decisions are made by Twitter management and employees.”

Reckless questions about free speech and censorship aren’t the only things Musk could try to hold on to. Since the purchase of his shares was revealed, he has periodically posted and responded on Twitter, offering his 80 million followers thoughts on the site’s cryptocurrency spam bot scourge – “the single most annoying problem” on the site. He wrote – and the long-discussed addition of an edit button that would allow users to retroactively modify their tweets.

poll he published the question of whether users want such a feature received more than 4 million votes by Tuesday evening, with about three-quarters of the responses in favor.

Using Twitter polls to gauge public opinion is becoming a hallmark of Musk’s tenure as co-owner. A week and a half ago he asked his followers, whether Twitter strictly adheres to the spirit of free speech; more than 70% of respondents answered in the negative.

In response to someone’s prediction that he would continue to use Twitter polls to influence the site’s policy, he noticed: “If people overwhelmingly vote for something, it’s at least *a data point!”