After Tesla CEO Elon Musk disclosed his ownership stake in Twitter, the social media company saw a surge in its share price. Dogecoin (DOGE), which has been endorsed by Musk, also rose in value by 11% according to Messari data. This surge comes after Twitter announced that Musk would be joining its board of directors.
In order to join the board, Musk has agreed not to raise his stake any higher than 14.9%. He and Twitter CEO Parag Agrawal exchanged tweets Tuesday morning expressing their excitement and interest in working together.
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