Twitter Still Has The Power To Ban Elon Musk, But Does That Matter?

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Twitter says that despite Elon Musk's ownership stake in the company and his placement on the company's Board of Directors, he will not have the power to influence its policy decisions and day-to-day operations. The Tesla and SpaceX CEO has not shied away from his displeasure towards the moderation policies of popular social media sites, namely Twitter. In fact, shortly before purchasing an ownership stake in the company, Musk publicly considered investing in a new social media site curated to his standards. It wouldn't have been the first time a wealthy entrepreneur used their assets to avoid complying with the policies of a corporation — former United States president Donald Trump exhausted resources to create Truth Social, an alternative social media site created in the wake of Trump's ban from Twitter.

Musk revealed on Monday, April 4, 2022 through a filing with the U.S. Securities and Exchange Commission (SEC) that he had purchased 73,486,938 shares of Twitter, which is equivalent to a 9.2 percent stake in the company. His shares are listed as a passive stake, but it is possible they could transition to become an active stake later down the road. Since Musk owns nearly ten percent of Twitter, it is reasonable to assume that his influence in the company would be strong.

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However, a statement from Twitter attempts to quench fears that Musk could contort the company's policies to fit his own. After it was confirmed that Musk had purchased an ownership stake in Twitter, the company's current CEO Parag Agrawal announced that Musk would also serve as a class II member of its Board of Directors. Since Musk holds the largest individual stake in the