BREAKING: Tesla CEO Elon Musk is set to be appointed to Twitter’s board of directors after he revealed he held a 9.2 percent stake in Twitter, which is the largest of any outside shareholder.

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Twitter will appoint Tesla CEO Elon Musk to its board of directors, the company announced Tuesday.

As long as Musk is serving on the board, and for 90 days after, he will not be able to own more than 14.9 percent of Twitter’s stock, Twitter said in a Securities and Exchange Commission filing. Musk’s term on the board will expire at the social media company’s 2024 annual meeting of stockholders.

The move comes after Musk revealed he acquired a 9.2 percent stake in Twitter, making Musk the largest outside shareholder.

Musk’s shareholding is more than four times the 2.25% stake held by Twitter founder Jack Dorsey.

According to a 13G filing published today, Tesla CEO Elon Musk now owns 9.2 percent of Twitter, Bloomberg News reports. Musk purchased the stock on March 14th, according to the filing. Musk has long been a high-profile Twitter user, and he recently questioned his over 80 million followers on the platform’s commitment to free speech. Twitter’s stock price rose more than 25% in pre-market trading as a result of the announcement.

According to CNBC, Musk’s Twitter stocks were worth $2.89 billion based on Friday’s closing price. Although Musk’s shares are categorized as a passive investment, Wedbush analyst Dan Ives told CNBC that the purchase “could lead to some sort of buyout.”

I’m disappointed that Elon Musk is anti-lifespan extention.

Surely we can find an easier way to avoid old politicians holding powers for too long without condemning billions of people to old age sickness and death.

NDTV.

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Elon Musk, the SpaceX and Tesla CEO, is not concerned about one thing: a long lifespan.