Twitter will put Elon Musk on its board, a move that comes no more than a day after Musk revealed a new billion-dollar position in the company making him its largest shareholder. Musk’s term as a director will last until 2024, and under the new agreement with Twitter, Musk is prohibited from acquiring more than 14.9% of the company, a clause meant to limit how much power he can wield over Twitter. Musk on Monday disclosed a stake in Twitter worth approximately $3 billion, some 9.2% of the company’s shares.
Date: 5th April, 2022
