Twitter will appoint Elon Musk to its board with certain limitations

• Elon Musk is joining Twitter's board for two years after buying a 9.2% stake in the company.
• Twitter CEO Parag Agrawal confirmed Musk’s appointment to the board.
• He will serve as a class II director until 2024, but his ownership stake is limited.

A filing with the Securities and Exchange Commission shows that Musk has been appointed to the board of directors for two years.

He will serve as a Class II director for two years, with his term ending at the company's annual stockholders meeting. Musk has a new position on the company's board.

I’m excited to share that we’re appointing @elonmusk to our board! Through conversations with Elon in recent weeks, it became clear to us that he would bring great value to our Board.April 5, 2022

See more

He's both a passionate believer and intense critic of the service which is exactly what we need on the platform to make us stronger in the long-term.

Musk teased that he intends to introduce significant improvements to the social media platform in the coming months.

RECOMMENDED VIDEOS FOR YOU...

His 9.2% stake in Twitter is estimated to be worth over $2 billion, and he chastised the company for failing to adhere to free speech principles. His ownership of 73,486,938 shares makes him the largest individual shareholder.

There are certain conditions that limit Musk's ownership stake to prevent a takeover. He cannot own more than 15% of the company while he is a board director.

For so long as Mr. Musk is on the board, he will not become the beneficial owner of more than 14.9% of the company's common stock.