It’s only Wednesday and already this has been a good week for South African independent thinkers.
Quinton de Kock, whose principle-based refusal to ‘bend the knee’ ahead of a cricket match – he argued all lives matter – evoked woke wrath, is very much on top of the world again. Last night De Kock became one of only 11 cricketers worldwide ranked in the ÂŁ125k price bracket for The Hundred, the UK’s new 100-ball cricket competition. He is the star asset of the Southampton-based Southern Brave team.
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Across the Atlantic, Pretoria-born and bred Elon Musk reaffirmed his status as the world’s most influential entrepreneur after news of his investment into Twitter added over $4bn to that company’s market value. As you’ll read in the piece below Musk was quickly invited to join Twitter’s directorate.
Rounding off the trifecta, former SA foreign affairs minister Roelof ‘Pik’ Botha’s namesake and grandson has been appointed managing partner of Sequoia Capital, the world’s premier venture capital firm. Roelof Botha is only the third person to lead the storied Silicon Valley outfit foundied half a century ago.
Three more out-the-box-thinking South Africans whose brilliance has been recognised on a global stage. Such a pity thought processes of those mismanaging their homeland remains deeply mired in racially-based, politically-influenced claptrap. SA possesses the talent to do so very much better.
More for you to read today:
- The ANC government’s Ukraine folly. RW Johnson says the idea that SA could be invited to mediate on the war reflects one of Pretoria’s abiding fantasies
- Amazon to Spend Billions on Space Launches as SpaceX Ramps Up Satellite-Internet Service. Project Kuiper, Amazonâs planned broadband-satellite unit, has purchased up to 83 launches
- Execution of Village Mayor Becomes Symbol of Russian Brutality in Ukraine. A beloved mayor and her family helped townspeople resist Russian occupation. They paid for it with their lives. âWhy were they killed? Because they were Ukrainiansâ
Elon Musk to Join Twitterâs Board of Directors After Becoming Largest Shareholder
SA’s most famous entrepreneurial export adds more than $4bn to Twitter’s market cap on news that he has become closely involved in the social media business
By Will Feuer and Sarah Needleman of The Wall Street Journal
Twitter Inc. said it would appoint Tesla Inc. Chief Executive Elon Musk to its board, essentially bringing the billionaire social-media agitator inside the fold.
Mr. Musk on Monday disclosed a 9.2% stake in the company, making him its largest shareholder. He has been one of its louder critics, assailing the platform for its adherence to free speech. His frequent, colorful use of Twitter has also landed him in occasional legal trouble.
Twitter shares rose more than 8% to $54.16 in premarket trading on Tuesday. The stock soared over 27% on Monday, after Mr. Muskâs position in the company was disclosed. Twitter rose again after the board announcement, advancing more than 4% Tuesday.
Twitter Chief Executive Parag Agrawal said the company had been in conversations with Mr. Musk for several weeks.
âHeâs both a passionate believer and intense critic of the service which is exactly what we need on @Twitter, and in the boardroom, to make us stronger in the long-term. Welcome Elon!â Mr. Agrawal tweeted.
Mr. Musk received a two-year term on the board. As long as he remains in that post, he cannot own more than 14.9% of the companyâs stock, Twitter said in a securities filing.
Mr. Musk tweeted: âLooking forward to working with Parag & Twitter board to make significant improvements to Twitter in coming months!â
The outspoken entrepreneur hasnât been shy about questioning Twitterâs values. After building his stake in the company, he mused publicly in recent weeks about Twitterâs commitment to free speech and even said he was considering starting a rival social-media platform of his own.
On March 25, 11 days after becoming the largest shareholder in the social-media company, Mr. Musk tweeted a poll, saying, âFree speech is essential to a functioning democracy. Do you believe Twitter rigorously adheres to this principle?â He added in a follow-up tweet: âThe consequences of this poll will be important. Please vote carefully.â
More than 70% of the roughly two million people who responded voted no.
In landing a board seat, Mr. Musk will be in a position âto really kick up dirt,â said AB Bernstein analyst Mark Shmulik. âHe moved from the back seat of the car to the front seat of the car. In fact heâs probably the driver.â
With Mr. Musk, Twitter will have 12 board members, including Mr. Agrawal and co-founder Jack Dorsey. In a tweet, Mr. Dorsey said that he welcomed Mr. Musk onto the board. âHe cares deeply about our world and Twitterâs role in it,â Mr. Dorsey wrote.
The manner in which Mr. Musk disclosed his investment in Twitter could flare tensions between him and the U.S. Securities & Exchange Commission, securities lawyers say. He was late in disclosing his 9.2% holding in a form that investors are required to file when they buy more than 5% of a companyâs stock, without planning to seek control. The filing also didnât include a standard certification that underscores an investorâs passive status.
Last month, Mr. Musk said he would resign from the board of Endeavor Group Holdings Inc., effective June 30. Endeavor said in a March securities filing that the move wasnât the result of any disagreement with the company.
Mr. Musk still remains on the board of at least two other companies, Tesla and rocket company Space Exploration Technologies Corp., as his SpaceX is formally known.
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