Elon Musk to join Twitter's board of directors, promises "major enhancements."

• After acquiring a 9.2% stake in Twitter, Elon Musk has been appointed to the company's board of directors, as announced in an SEC filing.
• Twitter’s stock closed up 2%.
• In recent weeks, Elon's conversations with our CEO Parag Agrawal revealed that he would greatly benefit our Board.

After acquiring a 9.2% stake in Twitter, Elon Musk will join the company's board of directors. The announcement caused Twitter's shares to rise by 2% on Tuesday.

In recent weeks, Elon's conversations with our CEO Parag Agrawal revealed that he would greatly benefit our Board.

Agrawal stated that he is both a fervent supporter and a harsh critic of the service, which is essential for Twitter and the boardroom to enhance their long-term strength.

Jack Dorsey, the former chief, commended Musk's actions, stating on Twitter that Musk is deeply concerned about the world and Twitter's role in it.

Dorsey had long desired to have Elon on the board.

According to a filing with the SEC, Musk's board term will end in 2024, and for the entire term or 90 days after, he cannot own more than 14.9% of the company's common stock.

After facing criticism on social media, Musk has purchased Twitter. Last month, the CEO polled his followers on whether the platform adheres to free speech principles. He later announced that he was considering creating a new social media platform.

On Tuesday, Musk teased that he would advocate for changes to the product after being appointed to the board.

Musk expressed excitement about collaborating with Parag and the Twitter board to bring about substantial enhancements to the platform in the near future, as stated in a tweet.

Despite being the largest outside shareholder, Musk's stake is viewed as a passive interest, meaning he does not attempt to control or influence the company. However, some investors anticipated Musk to adopt a more aggressive stance. Following the disclosure of his stake on Monday, the stock price increased by 27%, marking its best day since its IPO.

After his company's holding was exposed, Musk posted a Twitter poll asking users about their interest in an edit button. Agrawal retweeted the post, reminding people to vote carefully as the results would have significant implications.

Twitter is under pressure to meet its internal goals of growing to 315 million monetizable daily active users by the end of 2023, with 217 million reported in its most recent quarter. Agrawal, who took over from Dorsey in November, has stated that he will focus on metrics and accelerate Twitter's efforts to bring new products to customers. Musk's investment comes at a crucial moment for the social media company.

Musk joining Twitter could result in numerous strategic initiatives, both short-term and long-term, for the struggling company in the social media race, according to Wedbush analyst Dan Ives. It's time to pop some popcorn and observe the developments over the coming months with Musk on the board.

Despite being a popular Twitter user with over 80.5 million followers, Musk has faced legal issues due to his tweets. In 2018, he tweeted about securing funding to take Tesla private at $420 per share, which resulted in litigation. As a result, Musk has agreed to have his public statements about Tesla's finances and other topics vetted by its legal counsel.

In November, he was subpoenaed by the SEC after asking his Twitter followers if he should sell 10% of his Tesla stock, which caused the shares to fall.