Elon Musk turned down Twitter’s board position offer.
Elon Musk will no longer be joining Twitter's board of members in light of recent developments. The social media company's CEO, Parag Agrawal revealed the news late Sunday, a reversal less than a week after the Tesla chief's appointment was announced.
Tesla CEO Elon Musk has preserved his reputation for being one of Twitter's most unexpected characters even after turning down a board member position on the social media company.
After the announcement Elon Musk's first reaction was an emoji for coy laugh.
Elon Musk has turned down the proposal to join Twitter's board, the social media company's CEO said late Sunday, and a reversal less than a week after the Tesla chief's appointment was announced.
Elon Musk’s stake in Twitter:
Elon Musk was named to join the Twitter board after buying a major 9.2% stake worth $3 billion in the firm and became its largest shareholder. After this he even tweeted a poll about introducing an Edit button on being a part of Twitter's board of members. "Elon's appointment to the board was supposed to be officially effective from 4/9, but Elon shared the same morning that he would no longer be joining the board," Agarwal said.
Twitter CEO Parag Agarwal tweeted: "Elon has decided not to join our board." "I believe it is for the best." The CEO added.
Currently, Elon Musk, the tech billionaire with more than 80 million followers on the microblogging platform Twitter, revealed last week his purchase of 73.5 million shares or 9.2% of Twitter's common stock.
"Elon is our largest shareholder and we will be open to his inputs," Agarwal said.
Billionaire tech entrepreneur Elon Musk is an ardent Twitter user, who regularly mixes in inflammatory and controversial statements about issues or other public figures that are either ironic or business-focused.
Elon Musk’s recent tweet activities:
Recently, Elon Musk also floated the idea of ??turning Twitter Inc.'s headquarters into a homeless shelter, prompting a tweet of support for Amazon.com Inc. founder Jeff Bezos. He said "no one shows up anyway" - an apparent reference to company policy to give employees the option to work remotely - "I'm serious about that." The tweets come just days before Twitter CEO Parag Agarwal attended a company meeting to address employee queries.
Bezos, a fellow billionaire, responded on Sunday with a link to a report about a homeless shelter attached to an Amazon office building, noting that a portion of Twitter's location could be converted to help those employees, making it easier to those who want top volunteer. Musk called the suggestion a "great idea."