As majority shareholder he can be Chairman of the Board of Directors and control the company, hire and fire CEOs etc, decide what the board even gets to vote on, etc.
He can basically appoint himself CEO if he wants, like had did at Tesla.
Proxy takeover requires 51% of shares. Only 3% of americans are active on twitter.
It doesn’t seem like it would be worth it to acquire the rest of the 51%.
He took over tesla as chair and ceo with only 17% of shares (and less at the time). 51% is for hostile takeover. Majority shareholder only requires more shares than anyone else, in twitter case 9% was enough.
As majority shareholder he can be Chairman of the Board of Directors and control the company, hire and fire CEOs etc, decide what the board even gets to vote on, etc.
He can basically appoint himself CEO if he wants, like had did at Tesla.
Proxy takeover requires 51% of shares. Only 3% of americans are active on twitter. It doesn’t seem like it would be worth it to acquire the rest of the 51%.
He took over tesla as chair and ceo with only 17% of shares (and less at the time). 51% is for hostile takeover. Majority shareholder only requires more shares than anyone else, in twitter case 9% was enough.