12 C
Auckland
Wednesday, June 29, 2022
- Free Advertisement -spot_img
-- Free Advertisement --spot_img
HomeMoneyElon Musk joins board of his favorite messenger

Today's Top 10

Elon Musk joins board of his favorite messenger

Twitter shares jump as world’s richest man becomes company’s biggest shareholder.

The stock is up roughly 30% this week after Musk became the company’s largest shareholder.

Elon Musk Twitter news

The company appointed Musk to its board as a Class II director for a term that expires at the company’s 2024 annual shareholder meeting.

The appointment comes after the billionaire took a 9.2% passive stake in the company, worth almost $3 billion, making him the company’s largest shareholder.

“Through conversations with Elon in recent weeks, it became clear to us that he would bring great value to our Board,” Twitter CEO Parag Agrawal said in a tweet, commenting on the decision.

Elon Musk becomes Twitter’s largest shareholderREAD MORE: Elon Musk becomes Twitter’s largest shareholder
“He’s both a passionate believer and intense critic of the service which is exactly what we need on Twitter, and in the boardroom, to make us stronger in the long-term.”

The latest surge in Twitter’s shares comes right after their best day of trading since the company’s IPO in 2013, with shares surging over 27% on Monday.

According to the filing, Musk, either alone or as a member of a group, will not be able to become a beneficial owner of more than 14.9% of Twitter stock for as long as he sits on the board and for 90 days after.

Source:RT News

No login required to comment. Name, email and web site fields are optional. Please remember to keep comments respectful. We believe in free speech. Unfortunately, due the actions of one online troll, we have had to implement a manual moderation system to ensure online discussion remains civil and constructive. Your views and voice are important. Your comment will be published after moderation unless it contains hate speech or defamatory statements.

2 COMMENTS

  1. So this **** buys up 10% or whatever of twitter, and all the tards that follow him make him richer by jumping on the stock. Tries to make out hes a cool guy and not part of the elite. He is involved in neuro implants research, and, funnily enough Klaus talks about mind control. hmmm
    The guy is dangerous

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Opinion

Daily Life

Wellington
broken clouds
10.7 ° C
11.2 °
9.4 °
95 %
4.6kmh
75 %
Tue
12 °
Wed
12 °
Thu
14 °
Fri
11 °
Sat
12 °
- Make Your Voice Heard -spot_img

Latest