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• Musk asks users in a Twitter poll if they wanted an edit button
Twitter Inc (NYSE: TWTR) said on Tuesday it will appoint Elon Musk to its board, a day after the Tesla Inc (NYSE: TSLA) CEO disclosed a 9.2% stake in the social-media company.
Twitter’s shares soared more than 25% on Monday after Musk became the largest shareholder in the company.
On Tuesday, Musk asked users in a Twitter poll if they wanted an edit button on the platform. To this, Twitter CEO Parag Agarwal wrote, "The consequences of this poll will be important. Please vote carefully."
After around 4.2 million votes, 73.5% users voted yes while 26.5% voted no.
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Agarwal welcomed the billionaire and said he would bring great value to the company’s board.
“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. Welcome Elon!” Agarwal tweeted.
Musk, who is an active user of the social media platform, has over 80 million followers and even uses Twitter to make important announcements.
Musk replied to Agarwal’s tweet saying, “Looking forward to working with Parag & Twitter board to make significant improvements to Twitter in coming months!”
According to a SEC filing, Musk cannot own more than 14.9% of the company’s stock either as an individual shareholder or as a member of a group as long as he is on the company's board.
Picture Credits: Reuters