Elon Musk is not simply stopping at shopping for a stake in Twitter — he is even have a seat on the desk. As CNBC reports, Twitter is appointing Musk to the corporate’s board of administrators. He’ll be of worth as each a “passionate believer and intense critic” of the social community, based on chief govt Parag Agrawal.

An SEC filing exhibits that Musk will function a Class II director (that’s, not top-tier) with a time period that expires on the firm’s 2024 annual shareholder assembly. The appointment limits the stake Musk can maintain. He cannot personal greater than 14.9 % of widespread inventory throughout his tenure, and for 90 days afterward.

Twitter co-founder and former CEO Jack Dorsey thought effectively of the deal. In a response to the information, he believed Musk “cares deeply” concerning the planet and Twitter. Musk and Agrawal “lead with their hearts,” he mentioned.

It’s too quickly to say how a lot affect Musk can have as a director. However, he not too long ago blasted Twitter for allegedly falling wanting “free speech principles” and requested the social website’s customers if they need an edit button. He clearly intends to make his presence felt, to not point out thumb his nostril on the SEC for its crackdown in opposition to his finance-related tweets.