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Twitter often criticizes, Elon Musk turns out to be the biggest shareholder

Elon Musk recently revealed the largest shareholding in Twitter , even though he often criticizes the platform .

In response, Twitter said on Tuesday, April 5, it would offer Elon Musk a seat on its board of directors.

Through the position of the board of directors the Tesla boss can make significant changes on the social media site Twitter .

As quoted by Kabar Wonosobo from Reuters on Wednesday, Musk is currently the largest shareholder in Twitter by collecting about 9% of shares in Twitter .

"Looking forward to working with the Parag & Twitter board to make significant improvements to Twitter in the coming months," Musk tweeted at Parag Agrawal, Twitter  CEO .

Elon Musk will be involved in strategic decisions, including the direction of Twitter  Bluesky project and the addition of an edit button, according to a source familiar with the situation.

He will have no say on platform moderation , what speech is banned or whose account is reinstated, the source said — policies that apply to all board members.

Twitter shares closed up 2%, at $50.98, on Tuesday, after rising more than 27% on Monday. Tesla shares fell 4.7%.

Musk appointment could potentially stand in the way of his chances of making a Twitter takeover bid .

Musk cannot own more than 14.9% of Twitter shares either as an individual shareholder or as a member of a group as long as he is on the company board.

Monday disclosure of its shares sparked widespread speculation, from a complete takeover of the platform to taking active positions.

Musk has not shown any interest in acquiring the company, the source said.

Musk on Tuesday made amendments to his securities filings to report his change in status from a passive investor to an active investor, amid controversy that he may have filed the wrong paperwork.

“No one shies away from controversy or has an opinion, Musk always carries with it some compliance risks,” said Andrew Wang, Managing Partner of Runnymede Capital Management.

Musk also revealed in his filing on Tuesday that he bought a combined 73 million shares on Twitter for $2.64 billion from January 31 to April 1. That means an average price per share of $36.14.

Twitter stock had closed at $39.31 on Friday, ahead of Musk stock reveal

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