After becoming Twitter's largest shareholder, Elon Musk, Tesla's chief executive, is joining the company's board of directors.
The news sent Twitter’s shares skyrocketing more than 20 percent on Monday. Mr. Musk had been quiet on his intentions for the purchase, which was worth about $2.9 billion before it was disclosed but has risen sharply in value since. Twitter’s stock rose more than 6 percent in premarket trading on Tuesday after the news of Mr. Musk’s board appointment.
Elon Musk just bought a big piece of Twitter, and his first attempt at notifying shareholders was missing information that could've resulted in SEC fines.
He never bought fewer than 371,075 shares on the days he acquired them, peaked at 4,839,507 purchased on February 7th, and the last noted batch was purchased on April 1st. A report by The New York Times indicates that, unlike some other board members, Musk did not sign an agreement promising not to influence the company’s policies. Failing to have the right disclosure could result in a fine from the SEC, and as much as Elon seems to enjoy his ongoing standoffs with the federal agency (alleging broken promises, accusing the agency of leaks, claiming he was coerced into an unjust settlement over his tweets, and citing Eminem in a court filing are just a few), it looks like this is one he’s decided to avoid.
Musk seems openly determined to make changes, under the guise of democracy. On March 25, 11 days after becoming Twitter's largest shareholder, Musk tweeted a ...
Hence, Musk has voiced his enthusiastic approval for the site, and seems to miss its presence on Twitter. On Twitter, Musk has angrily responded to The Onion, after the satirical news site mocked him (amusingly, The Onion has since doubled down). After revealing his new position on the board of directors, Musk polled his followers again, asking if Twitter should add an edit button, intentionally including spelling errors to underline his point - this time, Twitter CEO Parag Agrawal noted that the poll would have important consequences.
The feature has been one of the most requested new features for the social networking service for over a decade.
The feature has been one of the most requested changes to the social networking service for over a decade. "Edit has been the most requested Twitter feature for many years. "Protecting the integrity of that public conversation is our top priority when we approach this work," Sullivan tweeted.
NEW YORK: Elon Musk will join Twitter's board of directors, the social network's chief executive announced on Tuesday (Apr 5), a day after the Tesla boss ...
Advertisement Advertisement Through conversations with Elon in recent weeks, it became clear to us that he would bring great value to our Board," Twitter CEO Parag Agrawal said in a tweet.
Elon Musk (above) disclosed in a regulatory filing that he had amassed a 9.2 per cent stake in Twitter, making him its largest shareholder. PHOTO: AFP.
In 2018 he exited the board of tech nonprofit OpenAI, which he cofounded. The company is working on building an open protocol that would allow different social media companies to operate together. "I'm excited to share that we're appointing @elonmusk to our board," Twitter CEO Parag Agrawal said in a tweet. Twitter executives tweeted out congratulations after the announcement. "News that he is taking a board position will lead to expectations that he wants, and will have, greater involvement in decision making at the social network," said Susannah Streeter, senior analyst at Hargreaves Lansdown. NEW YORK (REUTERS) - Twitter said on Tuesday (April 5) it will offer Tesla boss and entrepreneur Elon Musk a seat on its board of directors, a position he plans to use to bring about significant improvements at the social media site.
Elon Musk didn't actually tweet about his new stake in Twitter, which for an avid tweeter seemed somewhat ironic. Maybe it was because the 9.2% he now owns ...
Howard Fischer, partner at law firm Moses & Singer, told Reuters that, given he had already bought a stake in Twitter, these questions could be seen as a form of market manipulation. Mr Agrawal is clearly watching his every move. And it seems most likely that it will be from this Twitter account that Musk will let the world know what he intends to do next. Donald Trump, who was banned from Twitter in January 2021 after the Capitol riots, announced last autumn that he was launching his own social network - dubbed Truth Social - to "stand up to the tyranny of big tech". It would be a big change for Twitter to include an edit button, and Musk is clearly keen to be part of that conversation. I’m excited to share that we’re appointing— Parag Agrawal (@paraga) @elonmuskto our board! Cornell University's assistant professor Alexandra Cirone thinks this is evidence he may use his new stake "to try to influence Twitter practices" and for a "more active play in the social media eco-system". Last month, after he had lodged his investment with the SEC - but before his shareholding became public knowledge - he asked users whether they believed that free speech was essential to a functioning democracy and whether Twitter adheres to this principle. Musk has something of a love-hate relationship with Twitter. He is a frequent tweeter, with more than 80 million followers - and no stranger to controversy in his interactions on the social media site. "We would expect this passive stake as just the start of broader conversations with the Twitter board/management that could ultimately lead to an active stake and a potential more aggressive ownership role of Twitter," he said. Musk uses Twitter not just as a barometer for how he runs his own companies, but also increasingly to take the temperature of the nation. He added that "as a passionate believer and intense critic" of the service, he is "exactly what we need".
Billionaire businessman Elon Musk will join Twitter's board of directors, an announcement that came just hours after news broke that the Tesla and SpaceX ...
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Our policy decisions are not determined by the Board or shareholders,” a Twitter spokesperson said, though the statement may not assuage the concerns of ...
“Will he push for Twitter to open up its algorithm, which the company’s co-founder and former C.E.O. Jack Dorsey appeared to support last week?” “What should be done?” As some conservatives turn to alternative social networks—though perhaps not Trump’s failing Truth Social—the fact that Musk has decided to actually purchase a stake in Twitter has left some questioning his long-term plans in the venture. Musk, who has over 80 million followers on Twitter and now a 9.2% stake in the company according to a regulatory filing on Monday, making him Twitter’s largest shareholder, has seen frequent controversies due to his use of the platform, ranging from SEC violations to troublesome trolling of his critics. “Given that Twitter serves as the de facto public town square, failing to adhere to free speech principles fundamentally undermines democracy,” he added in a separate tweet. Zamora went on to note that while board members like Musk play “an important advisory and feedback role across the entirety of our service”—a role that includes overseeing mergers, acquisitions, and profitability—they are not responsible for the site’s “day to day operations and decisions.” (Musk, who owns 73,486,938 shares of Twitter, holds a passive stake in the company, according to an SEC 13G filing, meaning he is a long-term investor who is, per Bloomberg, not angling to wrest more control from Twitter’s other shareholders.) Do you believe Twitter rigorously adheres to this principle?” Musk wrote in a Twitter poll, adding that the “consequences of this poll will be important.
Social media company says it has been working on edit button since 2021 and will be tested on people signed up for Twitter Blue.
Sullivan said “without things like time limits, controls and transparency about what has been edited, Edit could be misused to alter the record of the public conversation”. Twitter said it was still developing the tool. Currently people work around it by deleting and reposting the tweet.