Elon Musk speaks at the SATELLITE Conference and Exhibition March 9, 2020, in Washington. Musk is joining Twitter’s board of directors, one day after it was disclosed that the Tesla CEO took a 9% stake in the social media platform. Twitter Inc. said in a regulatory filing that it entered into an agreement with Musk on Monday, April 4, that will give the billionaire a seat on its board, with the term expiring at its 2024 annual shareholders meeting. (AP Photo/Susan Walsh, File)
By Michelle Chapman
Elon Musk is joining Twitter's board of directors a day after revealing that he'd become the social media platform's largest shareholder with a 9% stake.
The billionaire has criticized Twitter publicly about its commitment to free speech. He's also run into trouble on the platform as the CEO of Tesla after financial regulators found he had posted inaccurate information about the company.
Musk is barred from owning more than 14.9% of Twitter’s outstanding stock while he sits on the board, Twitter Inc. said in a Tuesday regulatory filing.
Musk has been speaking with the company in recent weeks and Twitter CEO Parag Agrawal said in a tweet that “it became clear to us that he would bring great value to our 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," Agrawal wrote.
Musk said he's looking forward to working with Agrawal and the board “to make significant improvements to Twitter in coming months!"
Musk wasted no time in weighing in on one of the biggest gripes Twitter users have about the platform late Tuesday, asking in a tweet if he should add an edit button.
“Now its time to get out the popcorn and watch the developments over the coming months with Musk on the board,” wrote Daniel Ives, who follows Twitter for Wedbush Securities.
Twitter's board will have 12 members with Musk. Jack Dorsey stepped down as CEO of Twitter last and his term on the board expires at an upcoming stockholders’ meeting on May 25. Three other board members have terms that are set to expire but have been nominated to retain their seats.
Dorsey tweeted Tuesday that Musk and Agrawal “both lead with their hearts, and they will be an incredible team.”
“I’m really happy Elon is joining the Twitter board! He cares deeply about our world and Twitter’s role in it,” Dorsey said.
After amassing 73.5 million Twitter shares worth a total of about $3 billion, Musk has not spoken specifically about any Twitter rule changes he might push.
In March, Musk told his 80 million followers on Twitter that he was “ giving serious thought ” to creating his own social media platform.
Musk is locked into a bitter dispute with the SEC over his ability to post on Twitter. His lawyer has contended in court motions that the SEC is infringing on the Tesla CEO’s First Amendment rights.
A Michigan judge is putting sponges in the hands of shoplifters and ordering them to wash cars in a Walmart parking lot when spring weather arrives. Genesee County Judge Jeffrey Clothier hopes the unusual form of community service discourages people from stealing from Walmart. The judge also wants to reward shoppers with free car washes. Clothier says he began ordering “Walmart wash” sentences this week for shoplifting at the store in Grand Blanc Township. He believes 75 to 100 people eventually will be ordered to wash cars this spring. Clothier says he will be washing cars alongside them when the time comes.
The State Department had been in talks with Elon Musk’s Tesla company to buy armored electric vehicles, but the plans have been put on hold by the Trump administration after reports emerged about a potential $400 million purchase. A State Department spokesperson said the electric car company owned by Musk was the only one that expressed interest back in May 2024. The deal with Tesla was only in its planning phases but it was forecast to be the largest contract of the year. It shows how some of his wealth has come and was still expected to come from taxpayers.
At 100 years old, the Goodyear Blimp is an ageless star in the sky. The 246-foot-long airship will be in the background of the Daytona 500 — flying roughly 1,500 feet above Daytona International Speedway, actually — to celebrate its greatest anniversary tour. Even though remote camera technologies are improving regularly and changing the landscape of aerial footage, the blimp continues to carve out a niche. At Daytona, with the usual 40-car field racing around a 2½-mile superspeedway, views from the blimp aptly provide the scope of the event.
You'll just have to wait for interest rates (and prices) to go down. Plus, this deal's a steel, the big carmaker wedding is off, and bribery is back, baby!
It’s a chicken-and-egg problem: Restaurants are struggling with record-high U.S. egg prices, but their omelets, scrambles and huevos rancheros may be part of the problem. Breakfast is booming at U.S. eateries. First Watch, a restaurant chain that serves breakfast, brunch and lunch, nearly quadrupled its locations over the past decade to 570. Fast-food chains like Starbucks and Wendy's added more egg-filled breakfast items. In normal times, egg producers could meet the demand. But a bird flu outbreak that has forced them to slaughter their flocks is making supplies scarcer and pushing up prices. Some restaurants like Waffle House have added a surcharge to offset their costs.
William Falcon, CEO and Founder of Lightning AI, discusses the ongoing feud between Elon Musk and Sam Altman, and how everyday people can use AI in their lives.
U.S. tariffs on steel and aluminum “will not go unanswered,” European Union chief Ursula von der Leyen vowed on Tuesday, adding that they will trigger toug
