It was recently reported that the CEO of Twitter, Parag Agrawal, has made a massive announcement one day after Tesla, SpaceX and Starlink CEO Elon Musk became the largest shareholder in the company.
He took to the platform on Tuesday and said that the billionaire will now be on the Twitter board of directors.
“I’m excited to share that we’re appointing @elonmusk to our board! Through conversations with Elon in recent weeks, it became clear to us that he would bring great value to our Board,” he said in a tweet thread.
“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!” he said.
Musk, who announced his shareholder status this week, responded to the tweets.
“Looking forward to working with Parag & Twitter board to make significant improvements to Twitter in coming months!” he said.
Musk bought a 9.2% stake in Twitter, making him the largest shareholder of the left-leaning social media platform.
“Musk owns 73.5 million Twitter shares, valuing his passive stake in the company at up to $2.9 billion based on the stock’s Friday close. The shares are held by the Elon Musk Revocable Trust,” Newsmax reported.
“Musk, a prolific user of Twitter, has over 80 million followers on the site since joining in 2009 and has used the platform to make several announcements, including teasing a go-private deal for Tesla that landed him in regulatory scrutiny. He, however, has been critical of the social media platform and its policies of late and has said the company is undermining democracy by failing to adhere to free speech principles,” the report added.
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Many social media users reacted to the news, with Republicans supporting the move and others not too happy about it.
The move comes after Musk put up a poll asking his followers if they believed that Twitter did a good job of adhering to free speech principles.
The billionaire made a series of tweets that had some speculating that a social media app could be his next business venture.
“Free speech is essential to a functioning democracy. Do you believe Twitter rigorously adheres to this principle?” he said in one tweet with a poll in which 70 percent of the respondents answered “no.”