Twitter announced that Elon Musk, the CEO of Tesla and the richest man in America, will join their board. He bought over a 9% stake in Twitter, which makes him its largest shareholder.
Elon Musk could be the key to Twitter's future, as he has a few plans for the future.
Nonetheless, it will help his impact on the online entertainment platform. He would be essential for the board of directors after gaining insight into his becoming the most prominent individual investor.
On Tuesday, Twitter said in an administrative document that it intends to delegate the Tesla and SpaceX CEO to the board for a closing term in 2024.
Also, as a feature of the arrangement, Musk has made a deal to avoid securing over 14.9% of the organization's portions while he stays on the board.
Furthermore, Twitter reported that Musk had purchased 9.2% of its portions. The news came as an all-around shock after Musk had tweeted on numerous occasions as of late rebuking the organization's strategies and reflecting on whether another virtual entertainment stage was required.
Notwithstanding, Twitter's CEO wrote on Tuesday that "I'm eager to share that we're delegating @elonmusk to our board!"
Besides, he has additionally presented his great expectations for the organization and said that Elon Musk would enhance the organization.
The previous CEO and fellow benefactor of Twitter, Jack Dorsey, likewise said that Musk is a lot positive about the world and the job of Twitter in it.
"Musk thinks often profoundly about our reality and Twitter's part in it. Musk and Agrawal will be a mind-blowing group." He added.
Moreover, Twitter CEO Parag Agrawal said that he expects Elon Musk to bring significant enhancements to Twitter.
However, Musk has also tweeted that he is "anticipating working with Parag and Twitter board to make critical enhancements to Twitter before long.
So it implies that Twitter itself anticipates a few mind-blowing upgrades from the world's most extravagant individual.
Furthermore, he is likewise having a few plans for it. Yet, we don't have the foggiest idea of what upgrades can be brought to Twitter from here on out.