Days after disclosing owning a 9.2 percent stake in Twitter, Elon musk turns down a seat on the Twitter Board.
Musk says no to a seat on the Twitter board
Earlier this month, Tesla and SpaceX CEO Elon Musk disclosed owning a 9.2 percent of stake in the popular microblogging site. However, Parag Agrawal, the Chief Executive of Twitter stated that Musk is not joining the Twitter board. “The board and I had many discussions about Elon joining the board, and with Elon directly. We were excited to collaborate and clear about the risks. We also believed that having Elon as a fiduciary of the company where he, like all board members, has to act in the best interest of the company and all our shareholders, was the best path forward. The board offered him a seat,” tweeted Agrawal.
“Elon’s appointment to the board was to become officially effective 4/9, but Elon shared that same morning he will no longer be joining the board. I believe this is for the best. There will be distractions ahead, but our goals and priorities remain unchanged. The decisions we make and how we execute them are in our hands, no one else’s. Let’s tune out the noise, and stay focused on the work and what we’re building,” he added. However, minutes after Agarwal’s Tweet Musk tweeted a chuckling emoji confusing users.
Suggestions and ideas
Additionally, some Twitter employees believe that Musk’s appointment to the Twitter board of directors can jeopardize moderation. Recently, Musk has been conducting several polls on Twitter. He asked his followers if there should be an edit option on the Tweets. Additionally, he also asked if the Twitter HQ should become a homeless refuge. Amazon founder Jeff Bezos is also favoring the idea. Musk, proposing modifications to the Blue premium subscription suggested lowering the price and stopping advertisements. He also asked if it was possible to start allowing people to pay with dogecoin.