Elon Musk Declines Joining Twitter Board

Elon Musk, Twitter’s biggest shareholder, has opted not to join the company’s board, after being offered a seat following his purchase of 9.2% of the company’s shares.

According to Twitter CEO Parag Agrawal, Musk’s appointment was to become effective on Saturday however, the Tesla CEO declined the offer.

“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.” said Agrawal on Sunday in a message to his company.

He added that he believed Musk’s decision was “for the best”, and that the board shall still recognize him as a shareholder and are open to his input.

Joining Twitter’s Board would have prevented Musk from owning more than 14.9% of the company.

Musk had previously suggested a series of changes to the social media platform, including the introduction of an edit button.

He also suggested changes to the Twitter Blue premium service that included slashing its price, banning advertising and introducing the option to pay using the cryptocurrency Dogecoin.

Musk had also hinted at starting his own social media platform, shortly after questioning whether or not Twitter gave enough room for free speech.