Twitter CEO, Parag Agrawal, has just announced that billionaire Elon Musk has been appointed to the social media giant’s board after he bought 9.2% of the company’s shares and became its largest shareholder.
Elon Musk is a strong free speech advocate and in the past has been critical of Twitter’s treatment of conservative voices, that included the outright bans and blocking of stories, that reflected conservative views.
This has led to tens of thousands of conservatives leaving Twitter for other social media platforms.
As many have suggested, this is not a great business model.
Several have predicted that Musk’s purchase was a serious indicator that he was not intending to be a passive investor, but wanted to play an active role in the company’s governorship.
Some have suggested that Musk may also be considering an outright purchase of the company.
However, Fox News reports that has part of his agreement to join the board, Musk can not own more than 14.9% of Twitter’s stock while sitting on the board or for 90 days after he leaves. Musk’s appointment lasts until 2024.