Twitter is adding Elon Musk to its board of directors after he bought a 9% stake in the company

• Elon Musk is joining Twitter's board of directors, the social media company announced on Tuesday.
• The move comes days after the news that Musk took a 9.2% stake in the company.
• Twitter CEO Parag Agarwal said that Musk, "would bring great value to our Board."
• For more stories go to www.BusinessInsider.co.za.

Tesla and SpaceX CEO Elon Musk is joining Twitter's board of directors, the social media company announced on Tuesday morning.

"Through conversations with Elon in recent weeks, it became clear to us that he would bring great value to our Board," Twitter CEO Parag Agrawal said in a tweet. 

Musk is joining the board after disclosing a 9.2% stake in the social media company earlier this week. The investment made him Twitter's largest shareholder virtually overnight. 

Shares of Twitter surged more than 5% Tuesday morning following the announcement.

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