Tesla billionaire founder, Elon Musk has joined Twitter board barely a day after being disclosed as the largest shareholder of the social media company.
“Through conversations with Elon in recent weeks, it became clear to us that he would bring great value to our Board,” Twitter’s CEO Parag Agrawal said in a tweet.
“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.”
Musk’s term on the board will extend through 2024, according to a regulatory filing.
Musk, who’s amassed a 9.2 percent passive stake in Twitter, now valued at nearly $4 billion, is one of the platform’s most popular users.
Meanwhile, following the disclosure of Musk’s stake acquisition, Twitter’s shares increased by 25.8% to $49.48 in Monday, April 4, 2022’s pre-market trading.