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BREAKING: Elon Musk Joins Twitter's Board of Directors

Just one day after it was announced Musk was Twitter's largest shareholder, the company announced he would be joining their board

According to a filing with the Securities and Exchange Commission (SEC) on Monday, Elon Musk has been appointed to a seat on Twitter’s board of directors. 

The SEC filing states, “The Company will appoint Mr. Musk to the Company’s Board of Directors … to serve as a Class II director with a term expiring at the company’s 2024 Annual Meeting of Stockholders.”

The filing goes on to state that Musk is not allowed to purchase more than 14.9% of the company’s common stock, limiting his ability to gain full controlling shares of the corporation. 

Elon Musk was officially appointed to the board seat in a letter filed with the SEC and signed by Twitter’s CEO Parag Agrawal, who posted the announcement on his own Twitter on Tuesday morning. 

On Monday, it was reported that Elon Musk had acquired a 9.2% stake in the social media giant. 

The SEC filing shows that Musk purchased roughly 73.4 million shares in the company — making him the largest shareholder in Twitter. According to the Financial Times, founder Jack Dorsey only holds a 2.25% stake in Twitter.

On Monday, both Musk and Agrawal took to Twitter, displaying the influence that Musk was already wielding. The pair conducted a poll asking if users would like to have an edit button, allowing them to edit a post after sharing. 

The move by Musk, reportedly the world’s richest man, comes just weeks after he started criticizing the platform for its violations of free speech. His criticism was followed by a rumor that Musk himself might create a new competing platform similar to Twitter. 

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