In a Tuesday tweet, Twitter’s recently-appointed CEO Parag Agrawal welcomed the Tesla executive to the board.
“He’s both a passionate believer and intense critic of the service which is exactly what we need on Twitter, and in the boardroom, to make us stronger in the long-term,” Agrawal wrote.
Musk also received the blessing of Twitter co-founder and former CEO Jack Dorsey, who tweeted that Musk “cares deeply about our world and Twitter’s role in it.”
Musk’s acquisition sent the social network’s stock spiking 27% on Monday, and news of his appointment to the board had the stock up as much as 8% Tuesday morning.
If you had invested $1,000 in Twitter five years ago on April 4, 2017, your investment would be up 252.3% as of Tuesday at 10:49 a.m., according to CNBC calculations, with a total market value of $3,523.23.
Over the same two time periods, the S&P 500 index grew by 93.3% and 161.1%, respectively.
