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Musk joins Twitter board in deal that prevents him from buying majority stake

Posted on Author admin Comments Off on Musk joins Twitter board in deal that prevents him from buying majority stake
Elon Musk standing and gesturing with his hands while he speaks at a press conference.

Enlarge / Elon Musk at a press conference at SpaceX’s Starbase facility in Texas on February 10, 2022. (credit: Getty Images | Jim Watson)

Elon Musk is joining Twitter’s board of directors in a deal that prohibits him from buying more than 14.9 percent of the company’s stock, Twitter announced today. The news of Musk joining the board comes one day after the Tesla and SpaceX CEO revealed that he had purchased 9.2 percent of Twitter shares.

Musk said he’s looking forward to helping Twitter make “significant improvements” and asked Twitter users in a poll if they want an edit button. After about 3.4 million votes, 73.4 percent of respondents had voted yes—or rather, they voted “yse” instead of “on” because Musk misspelled both options.

Twitter CEO Parag Agrawal suggested that Musk’s poll on an edit button might influence Twitter policy. “The consequences of this poll will be important. Please vote carefully,” Agrawal wrote in a retweet of the poll.

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