Elon Musk Rejects Offer To Join Twitter Board Of Directors

CEO of Tesla Motors and business tycoon Elon Musk certainly needs no introduction. He might be the wealthiest man in the world, but he is not without his fair share of controversies. Musk also did something else interesting recently by the looks of it.

Recently, Elon Musk joked about getting rid of the Board of Directors on Twitter. This was after he purchased a 9.2% stake in the company. That was simply the beginning.

Musk received an invitation to join the Board of directions. Elon Musk also suggested radical changes to Twitter Premium. However, Musk decided it was not something he wanted to do.

Chief Executive of Twitter, Parag Agrawal, announced on Sunday evening that the CEO of Tesla Motors has rejected the offer to join the Twitter Board of Directors.

‘Elon shared that same morning that he will no longer be joining the board’, Agrawal said on Twitter, adding that he thought it was ‘for the best.’

The board and I had many discussions about Elon joining the board, and with Elon directly. We also believed that having Elon as a fiduciary of the company where he, like all board members, has to act in the best interests of the company and all our shareholders, was the best path forward. The board offered him a seat.

We announced on Tuesday that Elon would be appointed to the board contingent on a background check and formal acceptance.

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.’ 

Had Musk taken a board seat, he would have been limited in how much of the company’s shares he could own, with a 14.9 percent cap. Elon Musk has yet to comment on his rejection, which is surprising. We’ll have to see when Musk will finally comment on this.

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