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Elon Musk Joins Twitter Board, What Could It Mean for DOGE?

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Tue, 04/05/2022 - 13:08
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Yuri Molchan
Tesla boss has joined the Twitter board with his 9.2% of the stake at the social media giant
Elon Musk Joins Twitter Board, What Could It Mean for DOGE?
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It has just been reported that Elon Musk has been appointed to join the Twitter Board of Directors after he announced his ownership of 9.2% of the company's stake on Monday (that is 73.5 million shares). This makes him the single biggest investor in Twitter.

According to the investment terms, 14.9% is the biggest share he is allowed to own overall as an individual investor, member of an investment group or the director of Twitter.

Now, Twitter CEO Parag Agrawal, who took over from Jack Dorsey, has spread the word that Musk will be joining the company's board.

He will serve as a Class II director, and his term will expire in two years, during the meeting of Twitter shareholders in 2024.

Related
Elon Musk Slams Crypto Spam Bots, Causes Some Twitter Staff to Resign

Musk is a long-term Dogecoin fan. He has previously stated that he would support the implementation of the meme cryptocurrency into social media and has even been seriously thinking of building a new platform. After Twitter had launched tipping features in Bitcoin and Ethereum last year, Doge cofounder Billy Markus publicly asked Twitter to implement Doge tipping as well.

Now that Musk is able to impact the decision-making process on Twitter, who knows? Maybe he will do something to promote Dogecoin for users there.

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About the author

Yuri is a crypto journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. ‘Hodls’ major cryptocurrencies and has written for multiple crypto media outlets. 

His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.

Currently Yuri is a news writer at U.Today and can be contacted at yuri.molchan@u.today.