Elon Musk bags a seat on Twitter's board and teases an edit button

Elon Musk bags a seat on Twitter’s board and teases an edit button

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Elon Musk joins Twitter's board
Musk paid almost $3 billion for a 9.2% stake in the social media company.
Image: Twitter

Elon Musk this week earned himself a spot on Twitter’s board after becoming the social media giant’s largest shareholder. It was revealed on Monday that the Tesla CEO purchased a 9.2% stake in the company, worth almost $3 billion.

Musk also teased an edit button for tweets, which has been one of the most-requested features among Twitter users for many years.

Musk joins Twitter board

Twitter this week filed paperwork with the Securities and Exchange Commission (SEC) to confirm that Musk is its newest board member. He joins as a Class II director, serving for at least two years.

The move comes after Musk acquired a staggering 73,486,938 shares in Twitter. His 9.2% stake of the company is more than four times that held by Jack Dorsey, the social media platform’s founder.

One analyst this week predicted that the investment was “just the start” of Musk’s involvement with Twitter, which has more than 400 million active users worldwide. His invitation to join the board all but confirms that.

‘Welcome Elon!’

“Through conversations with Elon in recent weeks, it became clear to us that he would bring great value to our Board,” said Twitter’s new CEO, Parag Agrawal.

“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!”

Musk said he was “looking forward to working with Parag & Twitter board to make significant improvements to Twitter in coming months!”

Could one of those improvements be an edit button?

Musk teases an edit button

On Monday, Musk asked Twitter users whether they want to see an edit button, which would allow them to alter tweets after they’ve been posted. It’s something Twitter users have long been asking for.

The poll, which asked respondents to vote “yse” (we think Musk meant “yes”) or “no” attracted more than 3 million votes, with more than 73% saying “yse.” That doesn’t mean it’s actually going to happen, of course.

Twitter itself said Friday that it is “working on an edit button,” but that was April Fools’ Day. In the past, it has dismissed the idea. “We’ve made some practical considerations, but we’ll probably never do it,” Dorsey said when he was CEO.

Via: Sky News