It has been confirmed that Tesla chief executive, Elon Musk will no longer be joining Twitter’s board.
As most of you are aware, Elon Musk, 50, became part of the Twitter family after he was revealed as their biggest shareholder in the company has bought a stake worth 9.2 percent.
As part of the deal for Musk to join the board, the Tesla CEO had agreed not to acquire more than 14.9% of the company’s shares while he remained on the board, he also then agreed not to buy off or take over the company.
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The news of Elon making this u-turn not to be part of the board after he made it known he cannot wait to be part of the board was brought to light on Sunday night, by Twitter CEO, Parag Agrawal in a tweet.
He was according to Parag Agrawal expected to join the Twitter board officially on Saturday, April 9, 2022, but he changed his decision of joining, which Parag says he thinks “is for the best”.
The exact reason for this decision from Musk has not yet been revealed
According to Parag’s post, even though, Elon Musk has decided not to join the company’s board, the board have and will always value inputs from him since he happens to be their biggest shareholder and they will remain open to his suggestions.
The full post reads below.
Elon has decided not to join our board. I sent a brief note to the company, sharing with you all here. pic.twitter.com/lfrXACavvk
— Parag Agrawal (@paraga) April 11, 2022
Has Elon Musk Reacted To Decline In Joining Twitter Board?
Well, the billionaire after the update from the CEO of Twitter, took to his Twitter page and made a post sharing an emoji of a smiling face, with a hand over its mouth – supposedly an expression of rapture, a smirk, a shy smile, or happiness, which he has even already deleted.
Aside from that, there have not been any official reaction from him yet, as to what he thinks about the decision.
Elon Musk Net worth
Elon Reeve Musk FRS is currently as at the time of this post is worth $219 B according to Forbes ranking him as the world’s richest man/person/billionaire.
He is an entrepreneur, investor, and business magnate. He is the founder, CEO, and Chief Engineer at SpaceX; early-stage investor, CEO, and Product Architect of Tesla, Inc.; founder of The Boring Company; and co-founder of Neuralink and OpenAI.
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