Elon Musk to join Twitter's board after taking 9% stake
Elon Musk is joining Twitter's board of directors a day after disclosing that he had taken a 9% stake in the social media platform.
Twitter said in a regulatory filing on Tuesday that it had entered into an agreement with the Tesla chief executive that will give the billionaire a seat on its board, with the term expiring at its 2024 annual shareholders meeting.
Mr Musk, either alone or as a member of a group, will not be allowed to own more than 14.9% of Twitter's outstanding stock for as long as he is a board member and for 90 days after.
A message from the Editor:Thank you for reading this article. We're more reliant on your support than ever as the shift in consumer habits brought about by Coronavirus impacts our advertisers.
If you haven't already, please consider supporting our trusted, fact-checked journalism by taking out a digital subscription.
Comment Guidelines
National World encourages reader discussion on our stories. User feedback, insights and back-and-forth exchanges add a rich layer of context to reporting. Please review our Community Guidelines before commenting.