HomeWorld NewsElon Musk on Twitter's board of directors

Elon Musk on Twitter’s board of directors

Elon Musk, the world’s richest man and CEO of Tesla and SpaceX, has officially joined Twitter’s board of directors and is already offering his first polls to users of the social network. 

CEO of Twitter announces Elon Musk is joining the social network’s board of directors

Elon twitter cda
It’s official, Elon Musk joins the twitter board

Parag Agrawal announced on the social network that Elon Musk is officially part of Twitter’s board of directors. 

“I’m excited to share that we’re appointing @elonmusk to our board! Through conversations with Elon in recent weeks, it became clear to us that he would bring great value to our Board.

He’s both a passionate believer and intense critic of the service which is exactly what we need on Twitter, and in the boardroom, to make us stronger in the long-term. Welcome Elon!”

On that note, former CEO of Twitter, Jack Dorsey also spoke on the matter:

“I’m really happy Elon is joining the Twitter board! He cares deeply about our world and Twitter’s role in it. Parag and Elon both lead with their hearts, and they will be an incredible team”.

Elon’s first surveys to Twitter users 

Musk, main protagonist of the announcement, responded to the tweet expressing his happiness, stating:

“Looking forward to working with Parag & Twitter board to make significant improvements to Twitter in coming months!”

Not only that, in order not to waste any time, Musk also proposed some initial surveys to Twitter users, to check their willingness to make any changes to the social. 

“Do you want an edit button?”

Basically, Musk asks whether or not to add the function to edit tweets and, as at the time of writing, it seems that 73.6% of users are in favour of adding the edit option. 

Quite unlike the poll published at the end of last month, when Musk asked Twitter users whether a new, more democratic social platform was needed. Speculation was that the CEO of Tesla wanted to create his own social network, but apparently he followed the result of the poll, taking over from the already existing Twitter. 

The CEO of Tesla and SpaceX drives up the shares of the social network

According to analysis, following the announcement of Elon Musk’s purchase of 10% of Twitter’s shares, the stock jumped from $39 to $47, with an immediate pump of 22%, before closing the day at almost $50. That would be a gain of over 27% in a single day. 

In fact, the new buyer of Twitter shares seems to have invested $2.89 billion in the social network, with a package of 73,486,938 shares that makes him the majority shareholder of the social network, surpassing even Vanguard at 8.79% and Blackrock at 4.56%.

Musk, with his already 80 million followers, could be part of the re-launch of Twitter, creating optimism for investors in the social network, even if the actual result on the company’s economic-financial performance remains to be seen. 

Stefania Stimolo
Stefania Stimolo
Graduated in Marketing and Communication, Stefania is an explorer of innovative opportunities. She started out as a Sales Assistant for e-commerce, and in 2016 she began to develop a passion for the digital world, initially in the Network Marketing sector, where she discovered and became passionate about the ideals behind Bitcoin and Blockchain technology, which lead her to work as a copywriter and translator for ICO projects and blogs, and organize introductory courses.