Elon Musk Says 'Significant Improvements' Are Coming To Twitter

Tesla CEO Elon Musk vowed to "make significant improvements to Twitter in coming months" amid the announcement that he'd join the social media's company board of directors after purchasing 9% of Twitter's stock and becoming its largest shareholder.

Twitter CEO and board member Parag Agrawal confirmed Musk would be a board member in a tweet shared Tuesday (April 5) morning, one day after news of Musk's stock purchase.

"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. Welcome Elon!" Agrawal tweeted.

"Looking forward to working with Parag & Twitter board to make significant improvements to Twitter in coming months," Musk posted in response to Agrawal's announcement.

An email sent to Twitter employees by Agrawal obtained by NBC News confirmed he and Musk "are aligned on the critical role Twitter plays in the world."

"There are times we will agree, times we will disagree, and that tension will help us get to better answers," Agrawal wrote via NBC News.

A screenshot from the company's internal Slack chat seen by NBC News reportedly showed signs of a split in reaction to Musk's stock purchase.

Musk, whose net worth is listed on the Bloomberg Billionaires Index at about $273 billion, making him the world's richest person, had stated that he'd given "serious thought" to purchasing stock in Twitter, which he posts on regularly, but claimed was "failing to adhere to free speech principles" which he claimed "fundamentally undermines democracy."

The billionaire's decision comes amid criticism from conservatives following Twitter's enforcement of its rules and a ban on former President Donald Trump based on his social media posts playing a role in the lead-up to the the January 6, 2021 insurrection.

Dan Ives of WedBush Securities initially said Musk's ownership stake purchase was believed to be a passive investment and he will become a long-term investor aiming to maximize his buying and selling shares.

However, given the stake purchase is a sizable share, as well as his recent criticism of the website, others believed he was attempting to exert some control.

“We would expect this passive stake as just the start of broader conversations with the Twitter board/management that could ultimately lead to an active stake and a potential more aggressive ownership role of Twitter,” Ives wrote in a client note early Monday.

Twitter's stock rose by 25% prior to the stock market opening on Monday while Tesla's rose slightly upon news of Musk's purchase.