Connect with us

Tech

Elon Musk is ditching the decision to join Twitter’s Board, reveals CEO Parag Agarwal

Elon’s appointment to the board was to become officially effective on 9th April, but the same morning he shared that he will no longer be joining the board.

Published

on

Elon Musk ditches decision to join Twitter Board

Elon Musk will not be joining Twitter’s board of directors, Twitter CEO Parag Agrawal revealed in a statement to the business. After Musk purchased 9.2% of the company’s stock, he became the biggest shareholder of the social media firm. Following this, Twitter’s CEO last week announced that Musk would be joining Twitter’s board. However, now, as per Agarwal’s latest statement, Musk has ditched taking up the position.

Aggarwal in an official statement to the company writes, “We announced on Tuesday that Elon would be appointed to the Board contingent on a background check and formal acceptance.” Moving further it states, “Elon’s appointment to the board was to become officially effective 4/9, but Elon shared that same morning that he will no longer be joining the board. I believe this is for the best.” It further adds, “We have and will always value input from our shareholders whether they are on our Board or not. Elon is our biggest shareholder and we will remain open to his input.”

Musk’s stake in Twitter was valued at $2.89 billion at the moment his purchase was made public. And as per the filing, if Musk had joined Twitter’s board, he would’ve lost the power to purchase more than 14.9 percent of the company. So this could be the reason behind his decision to opt out of joining the firm’s board of directors.

Elon Musk has turned Twitter into a circus.  Since Musk’s Twitter investment was exposed, the Tesla and SpaceX CEO has been openly tweeting about his company’s ideas. However, as with Musk, it’s difficult to tell whether he’s simply mocking.

He launched a poll to determine if Twitter should include an edit button the day before the company announced that the long-requested functionality will be included. More recently, on the same day he supposedly told Twitter he wouldn’t join the board, he posted ideas like incorporating verification checkmarks with the premium Twitter Blue service, or transforming Twitter’s San Francisco headquarters to a homeless shelter “because no one shows up anyhow.”

Another poll Musk launched was so hilarious as he asked people if “w” should be removed from “Twitter”, with people going crazy calling it “Titter.”

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published.