By inviting longtime critic to serve on the social media giant's board, company executives may have also prevented him from launching a hostile takeover. Musk is set to serve on Twitter's board of directors until the company's 2024 annual shareholders meeting. But buried in a regulatory filing outlining the terms of this agreement is a key clause: Musk cannot own more than 14.9 percent of the company's stock more for as long as he's a board member - and for 90 days after. Musk already indicated his stake in the company would be passive in a Securities and Exchange Commission report filed Monday.
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