Twitter Inc has welcomed world’s richest man, Elon Musk to the company.
This comes after Musk bought 9.2% stake in the company.
He has also become a director in the company.
Twitter made the announcement on Tuesday, saying it would name top shareholder and Tesla boss Elon Musk to its board, a day after the billionaire disclosed a 9.2% stake in the social media company.
Mr Musk cannot become the owner of more than 14.9% of Twitter’s common stock either as an individual shareholder or as a member of a group as long as he is the director of Twitter, the company said in a filing.
“I’m excited to share that we’re appointing @elonmusk to our board,” Twitter Chief Executive Officer 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.”