Twitter to name top shareholder Elon Musk to board
Twitter Inc said on Tuesday it would name top shareholder and Tesla boss Elon Musk to its board, a day after the billionaire disclosed a significant stake in the social media company. The appointment may temporarily block chances of an immediate takeover bid from Musk, something that analysts and investors had speculated after he reported a 9.2% stake, worth about $3 billion. Musk cannot own more than 14.9% of Twitter's common stock either as an individual shareholder or as a member of a group as long as he is the director of Twitter, the company said in a filing. "I'm excited to share that we're appointing @elonmusk to our board," Agrawal said in a tweet. "He's both a passi...Keep on reading: Twitter to name top shareholder Elon Musk to board
Boracay News Syndicated Daily
Twitter Inc said on Tuesday it would name top shareholder and Tesla boss Elon Musk to its board, a day after the billionaire disclosed a significant stake in the social media company.
The appointment may temporarily block chances of an immediate takeover bid from Musk, something that analysts and investors had speculated after he reported a 9.2% stake, worth about $3 billion.
Musk cannot own more than 14.9% of Twitter's common stock either as an individual shareholder or as a member of a group as long as he is the director of Twitter, the company said in a filing.
"I'm excited to share that we're appointing @elonmusk to our board," Agrawal said in a tweet. "He's both a passi...Keep on reading: Twitter to name top shareholder Elon Musk to board
