Twitter Inc (TWTR.N) announced that it will award Elon Musk a seat on its board of directors, a position that the Tesla CEO and entrepreneur hopes to use to enhance the social media site after disclosing a major stake.
Musk said in a regulatory filing on Monday that he now owns around 9% of Twitter, making him the company’s largest stakeholder.
Musk wrote on Twitter, “Looking forward to working with Parag and the Twitter board to create big changes to Twitter in the next months.” Twitter’s CEO is Parag Agrawal.
Tesla Inc’s (TSLA.O) CEO, who is known for taking unconventional paths, has provided little detail beyond the promise of major change at Twitter.
According to a source familiar with the issue, Musk will be involved in strategic choices such as the direction of Twitter’s Bluesky project and the implementation of an edit button.
According to the source, he will have no control in how the platform is moderated, what speech is prohibited, or whose accounts are restored – a regulation that applies to all board members.
On Tuesday, Twitter shares closed at $50.98, up 2% from Monday’s high of almost 27 percent. Tesla’s stock was down 4.7 percent.
Related posts:
For creators, Twitter has launched Super Follows Spaces
Along with ad verification companies, Twitter provides marketers with tweet-level information.
Airwallex, funded by Tencent, has obtained a Chinese e-payment licence.
Whatsapp has planned to transfer through Android and IOS devices
A French court has upheld Google’s sentence of 100 million euros for violations of its cookie policy.
Following Sweden’s 5G prohibition, Huawei has taken the company to court.
As the game war heats up, Sony will purchase Bungie, the creator of ‘Halo’.
With ‘Cyber Rodeo,’ Tesla opens a massive Texas facility.
New game titles are available on Netflix
Microsoft adds ChatGPT support to additional developer tools.
Trukkr, a Pakistani fintech firm, receives $6.4 million and obtains a lending licence.
Pakistan’s telecom industry suffers a loss of Rs2.49 billion due to internet outages.
