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Why Elon Musk Is No Longer Joining Twitter Board -Group CEO

Why Elon Musk Is No Longer Joining Twitter Board -Group CEO

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Elon Musk is no longer joining the board of Twitter, the CEO of the social media company said late Sunday, in a reversal less than a week after announcing the Tesla chief would be appointed.

Musk was named to join the Twitter board after buying a major stake in the firm and becoming its largest shareholder.

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“Elon has decided not to join our board,” Twitter CEO Parag Agrawal tweeted.

“Elon’s appointment to the board was to become officially effective 4/9, but Elon shared that same morning he will no longer be joining the board,” Agrawal said.

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“I believe this is for the best.”

Currently the world’s richest man and with more than 80 million followers on the microblogging platform, Musk last week disclosed a purchase of 73.5 million shares — or 9.2 percent — of Twitter’s common stock.

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“Elon is our biggest shareholder and we will remain open to his input,” Agrawal added.

Billionaire tech entrepreneur Musk is a frequent Twitter user, regularly mixing in inflammatory and controversial statements about issues or other public figures with remarks that are whimsical or business-focused.

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He has also sparred repeatedly with federal securities regulators, who cracked down on his social media use after a purported effort to take Tesla private in 2018 fell apart.

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