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Elon Musk recently acquired a 9.2% stake in Twitter last week, a move that was quickly followed by the appointing of the multi-billionaire to the Twitter Board of Directors.
Despite this 9.2% stake making Elon the new largest stakeholder in the company, his administrative powers will still be limited. The CEO will be given the title of Class II Director until 2024, which will prevent him from being able to take complete control of the company. Despite this, Elon’s power in the company will still be immense, and users should be wary of the “significant improvements” he plans to bring to the App.
Photo by Jeremy Bezanger on Unsplash
