August 13, 2022

New majority Twitter shareholder Elon Musk issued a ballot to his tens of millions of followers on the social media platform Saturday, sarcastically asking if he ought to remodel the corporate’s Silicon Valley headquarters right into a homeless shelter. 

Within the submit, Musk – who bought a 9.2 p.c stake within the social media big earlier this week and was subsequently named to the corporate’s board of administrators – seemingly took intention at the corporate’s lax distant working insurance policies, saying he got here up with the plan ‘since nobody exhibits up anyway.’

To this point, the outcomes of the 24-hour ballot, posted at 9:30 PM ET by the billionaire businessman, suggests overwhelming help for the potential enterprise – with 91.8 p.c of greater than 523,114 respondents voting in favor of the plan inside two hours of its posting.  

The submit from the outspoken Tesla CEO, identified for his social media antics, comes weeks after Twitter brass – who provided staffers the choice of working from residence ‘eternally’ through the pandemic –  reopened its places of work March 15, with distant work remaining an possibility for staffers.

Within the submit, Musk seemingly took intention on the firm’s lax distant working insurance policies, sarcastically saying he got here up with the plan ‘since nobody exhibits up anyway.’ To this point, 91.8 p.c of 523,114 respondents voted in favor of the plan, inside two hours of its posting

Musk became the company's majority shareholder this week after it was revealed he purchased a 9.2 percent stake in the social media giant earlier this week and was subsequently named to the company's board of directors

Musk turned the corporate’s majority shareholder this week after it was revealed he bought a 9.2 p.c stake within the social media big earlier this week and was subsequently named to the corporate’s board of administrators

‘It’s been nearly two years since we closed our places of work and journey and I’m excited to announce that we’re prepared to totally open up enterprise journey and all our places of work around the globe!’ Twitter CEO Parag Agrawal wrote in a notice to staff posted to Twitter March 3. 

‘Enterprise journey is again efficient instantly, and workplace openings will begin on March 15,’ the exec wrote.

Within the assertion, Agrawal, who was promoted to CEO of the San Francisco-based firm in November, stated that he can be honoring a coverage put in place by former head exec Jack Dorsey through the early days of the pandemic, that stated staffers may work remotely ‘eternally’ in the event that they wished to. 

‘Our high precedence for the reason that starting of the pandemic has been to maintain you all secure and this can proceed,’ Agrawal wrote.

‘Now we’re returning to a stage the place you’re residing your lives, adjusting to native well being tips, and deciding what works greatest for you.  

 ‘So, the choices about the place you’re employed, whether or not you are feeling secure travelling for enterprise, and what occasions you attend, needs to be yours,’ the exec added, in a sentence this time set in daring.

‘As we open again up, our strategy stays the identical,’ Agrawal, 37, went on.

‘Wherever you are feeling best and artistic is the place you’ll work and that embody working from residence full-time eternally,’ the CEO wrote, in one other bolded sentence.

See also  Musk pledges to protect freedom of speech and restore trust in Twitter

‘Workplace on daily basis? That works too. Some days within the workplace, some days from residence? In fact.’ 

Agrawal, nevertheless, warned that ‘distributed working might be a lot, a lot tougher’ and stated ‘there might be a number of challenges’ amid the brand new coverage.   

Agrawal went on to tout the benefits of having staffers in the identical bodily area, the place they will expertise the ‘firm tradition,’ and stated that visits to the workplace will ‘carry that tradition to life in such a strong method.’ 

The CEO then offered a signoff that appeared hopeful of staffers’ need to return to in-person work.

‘I stay up for seeing you all again on the workplace or maybe at an occasion, someplace in your house metropolis, or mine?’

‘Cant’ wait… Parag.’ 

The post from Muck comes weeks after Twitter CEO Parag Agrawal announced the company would be reopening its offices March 15, with remote work remaining an option for staffers. During the pandemic, the company offered staffers the option of working from home 'forever'

The submit from Muck comes weeks after Twitter CEO Parag Agrawal introduced the corporate can be reopening its places of work March 15, with distant work remaining an possibility for staffers. Throughout the pandemic, the corporate provided staffers the choice of working from residence ‘eternally’

In the statement, Agrawal, who was promoted to CEO of the San Francisco-based company in November, said he would be honoring a policy put in place by former head exec Jack Dorsey during the early days of the pandemic that allowed staffers to work remotely indefinitely

 Within the assertion, Agrawal, who was promoted to CEO of the San Francisco-based firm in November, stated he can be honoring a coverage put in place by former head exec Jack Dorsey through the early days of the pandemic that allowed staffers to work remotely indefinitely

Greater than a month later, as Silicon Valley’s tech staff are beginning to filter again to the workplace as Covid-19 instances plummet, it seems to be as if the CEO’s religion in staffers’ need to return to work in-person was misplaced – one thing new board member Musk appeared to hone in on along with his mocking submit.

Google, for example, informed staff final month that it might start requiring staff to return in particular person at the very least three days every week – a coverage that went into impact this previous week

Apple equally introduced that by April 11, staff should work from the workplace at the very least in the future every week.

Twitter, in the meantime, has not issued any in-person necessities for its staffers – a call Musk seemingly panned in his submit.

Staffers at the San Francisco-headquarter company now have the option to come into the office - a policy Musk seemingly took aim at with the Saturday poll. Pictured is Twitters San Francisco office last summer

Staffers on the San Francisco-headquarter firm now have the choice to come back into the workplace – a coverage Musk seemingly took intention at with the Saturday ballot. Pictured is Twitters San Francisco workplace final summer time

Previous to posting the ballot, Musk additionally recommended additional modifications to Twitter’s enterprise fashions in a sequence of tweets suggesting tweaks to the platform’s premium Blue service, together with a less expensive subscription worth, banning adverts and providing the choice to pay in cryptocurrency. 

The service, which affords customers entry to further options, like an undo button and ad-free information articles, at present prices $2.99 a month.

‘Value ought to most likely be ~$2/month, however paid 12 months up entrance & account doesn’t get checkmark for 60 days (look ahead to bank card chargebacks) & suspended with no refund if used for rip-off/spam,’ Musk wrote Saturday.

See also  New book delves into what drives Elon Musk’s galactic ambition and abrasive genius 

‘And no adverts,’ the South African mogul added. ‘The ability of companies to dictate coverage is vastly enhanced if Twitter will depend on promoting cash to outlive.’

Musk additionally declared that ‘Everybody who indicators up for Twitter Blue (ie pays $3/month) ought to get an authentication checkmark.’

Prior to posting the poll, Musk also suggested further changes to Twitter's business models in a series of tweets suggesting tweaks to the platform's premium Blue service, including a cheaper subscription price, banning ads and offering the option to pay in cryptocurrency

Previous to posting the ballot, Musk additionally recommended additional modifications to Twitter’s enterprise fashions in a sequence of tweets suggesting tweaks to the platform’s premium Blue service, together with a less expensive subscription worth, banning adverts and providing the choice to pay in cryptocurrency

Musk, the world’s wealthiest man, ruffled feathers this week when it was introduced he bought a 9.2 p.c stake within the social media big – making him the platform’s largest shareholder – and was becoming a member of the corporate’s board of administrators. 

Twitter entered into its board membership settlement with Musk on Monday, an SEC report revealed.

After submitting the regulatory submitting Tuesday, Twitter CEO Parag Agrawal introduced Musk’s board membership on the social media, alleging the billionaire brings ‘nice worth’ to the corporate.

‘I’m excited to share that we’re appointing @elonmusk to our board! By way of conversations with Elon in latest weeks, it turned clear to us that he would carry nice worth to our Board,’ Agrawal wrote.

‘He’s each a passionate believer and intense critic of the service which is strictly what we’d like on @Twitter, and within the boardroom, to make us stronger within the long-term. Welcome Elon!’ 

Musk responded to the CEO, saying: ‘Trying ahead to working with Parag & Twitter board to make important enhancements to Twitter in coming months!’ 

Different board members appeared receptive to Musk – who has 80 million Twitter followers – becoming a member of their ranks, with a number of issuing welcome messages on-line, together with platform founder Jack Dorsey.

Twitter board members, including founder Jack Dorsey, seemed excited about Musk's appointment

Twitter board members, together with founder Jack Dorsey, appeared enthusiastic about Musk’s appointment

Several, including Omid Kordestani, the board's executive chairman and a current member, posted messages of welcome to the platform

A number of, together with Omid Kordestani, the board’s government chairman and a present member, posted messages of welcome to the platform

Board chair and Salesforce Co-CEO Bret Taylor said they were excited to work with Musk

Board chair and Salesforce Co-CEO Bret Taylor stated they have been excited to work with Musk

‘I’m actually blissful Elon is becoming a member of the Twitter board! He cares deeply about our world and Twitter’s function in it,’ Dorsey tweeted. ‘Parag and Elon each lead with their hearts, and they are going to be an unimaginable workforce.’

Board chair and Salesforce Co-CEO Bret Taylor echoed the sentiment, saying: ‘Welcome to the Twitter board, @elonmusk! We’re all excited to work with you and construct the way forward for Twitter collectively.’

Taylor’s submit was retweeted by fellow board members Mimi Alemayehou, Senior Vice President for Public-Non-public Partnership at Mastercard; Martha Lane Fox, Founder and Chairperson of Fortunate Voice Group; and Stanford College professor Dr. Fei-Fei Li. 

Omid Kordestani, the board’s government chairman and a present member, wrote: ‘Welcome @elonmusk!’

The 4 remaining board members – Former World Financial institution President Robert Zoellick, Invoia Capital common associate Patrick Pichette, 1stdibs.com Inc. CEO David Rosenblatt, and Egon Durban, Co-CEO of Silver Lake – didn’t publicly touch upon Musk’s appointment to the board.

Not one of the members instantly responded to DailyMail.com’s requests for remark.  

Stock prices rose by more than 3 percent on Tuesday after news of Musk's board appointment

Inventory costs rose by greater than 3 p.c on Tuesday after information of Musk’s board appointment

Thousands and thousands of traders flocked to Twitter’s inventory after Musk disclosed his 9.2 p.c stake within the firm. 

The inventory turned the most purchased U.S. inventory by retail traders on Monday, surging 27 p.c in worth. 

Inventory costs rose by greater than three p.c, to 50.98, on Tuesday after information of Musk’s board appointment. The inventory was buying and selling at round 39 on Friday.   

Within the newest Forbes checklist, Musk, elevated his internet value to $282billion, practically $100billion richer than Amazon founder Bezos, whose internet value is $183.6billion.

Earlier this week, Musk tweeted a ballot saying ‘Would you like an edit button?’ for Twitter.

Agrawal later responded to the tweet: ‘The implications of this ballot might be vital. Please vote rigorously,’ apparently trolling Musk for saying the identical factor in a March 25 tweet when he questioned whether or not Twitter ‘adheres to the precept’ of free speech. 

A majority of voters stated sure, with bosses there confirming one is already within the works when it was introduced April 1 and denied that Musk had any function in its inception.

Earlier this week, he asked tweeters if they'd like to see an edit button, with the firm subsequently confirming that one was already in the works

Earlier this week, he requested tweeters in the event that they’d wish to see an edit button, with the agency subsequently confirming that one was already within the works 

Twitter CEO Parag Agrawal tweeted afterwards that 'the consequences of this poll will be important,' apparently trolling Musk for saying the same thing in a March 25 tweet about whether the company 'adheres to the principle' of free speech

Twitter CEO Parag Agrawal tweeted afterwards that ‘the implications of this ballot might be vital,’ apparently trolling Musk for saying the identical factor in a March 25 tweet about whether or not the corporate ‘adheres to the precept’ of free speech

Musk beforehand got here underneath hearth for an additional ballot posted to the platform in December, when he requested his followers whether or not he ought to promote his then 10 p.c stake in his personal firm.

The SEC in February stated it was probing a inventory sale valued at $109M by Musk’s brother, Kimbal a day earlier than that tweet.   

The tweet from Musk noticed a swift decline in Tesla inventory that erased $35 billion from his internet value within the span of day.

Musk, 50, poised a question to his horde of 63.1 million Twitter followers on Saturday asking if he should sell 10 percent of his $250 billion stake in the company

Musk, 50, poised a query to his horde of 63.1 million Twitter followers on Saturday asking if he ought to promote 10 p.c of his $250 billion stake within the firm

Within the months since, the inventory briefly recovered on the finish of final yr, nearing $1200 earlier than coming right into a freefall in 2022, hitting $846 on the finish of January and languishing within the $700s in February.

Throughout this marked decline, Musk offered off a surprising $16 billion in shares and donated $5.7 billion value to charity, seemingly foreseeing the impact his posting would have on the share worth.

Now, the tech tycoon faces the potential of one other Securities and Change Fee (SEC) probe over the large income he reaped after delaying the disclosure of his Twitter inventory buy by 11 days, throughout which era he earned roughly $156million in income.