Elon Musk turned down offer to join Twitter board

April 11, 2022

After last week’s compelling news about Musk becoming Twitter’s biggest shareholder, the billionaire was offered to serve on Twitter’s board of directors. Then, in a sudden turn of events, new Twitter CEO Parag Agrawal released a note to the company saying that Musk had decided not to join the board.

In the announcement, Agrawal mentioned they “were excited to collaborate and clear about the risks” of Musk being “appointed to the Board contingent on a background check and formal acceptance.” However, the business magnate said that he would no longer be joining the board.

The reasons behind Musk turning down the offer are not clearly stated, but it can be recalled that the agreement of serving the board includes prohibiting him from owning 14.9 percent of the company’s stock. Different Twitter users, on the other hand, started reading between the lines and sharing various speculations about the news.

Despite everything, Agrawal made an assurance that Musk would still have a say in the company. “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.” the post reads. “There will be distractions ahead, but our goals and priorities remain unchanged. The decisions we make and how we execute is in our hands, no-one else’s. Let’s tune out the noise, and stay focused on the work and what we’re building.”

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