After joining Twitter as the largest shareholder, Elon Musk apparently has more influence on the strategy of the social network than expected. Now tech billionaire is also moving into Twitter’s board of directors.
Elon Musk has in his possession 9.2% of the total shares of said company. If we convert that percentage into a number, we find that Elon Musk has about 73.5 million shares of Twitter, which gives a value of 2.9 billion dollars. This valuation has been obtained based on the unit price per share that the company registered last Friday, which means that it is up to date. Musk himself has not yet commented on what he intends to do with his investment.
Now Musk officially gets more influence on Twitter’s strategy. Twitter boss Parag Agrawal wrote on April 5, 2022. “That’s exactly what we need” so that Twitter can become stronger in the long term.
It is not yet known to what extent Musk wants to be involved in the work of the board of directors. Only recently, in a Twitter post, Musk had a vote on whether the service strictly adheres to the principle of free speech.
And just in the past few hours, Musk, shortly after revealing that he owns 9.2% of the company, posted a poll on Twitter asking the public if he wanted the introduction of an edit button for posts, proposing the answers “yes” and “no” to emphasize how effective such a change would be. The poll was relayed by Twitter CEO Agrawal, stating: “The consequences of this poll will be important. Please vote carefully.”