Tesla CEO Elon Musk Decides not to Join Twitter’s Board
Tesla CEO Elon Musk Decides not to Join Twitter’s Board.
News coming in has revealed that Tesla CEO Elon Musk will not be joining the big table of Twitter’s shareholders. The CEO of Twitter Parag Agrawal announced that despite the change, Elon remains Twitter’s largest shareholder with a 9.2% stake worth 73.5 million.
The message comes a few hours after the Tesla CEO announced expected changes that would be made to the social media platform which include adding an edit button to tweets and transforming the San Francisco headquarters into a homeless shelter.
Elon has decided not to join our board. Elon’s appointment to the board was to become effective on 4/9, but Elon shared the same morning that he will no longer be joining the board. I believe this is for the best. Tweeted Agrawal.
Some of the other changes proposed by Elon was to do away with Ads on the social platform, which reportedly accounted for 90% of last year’s revenues.
Business analysts have shared their thoughts on Elon’s decision to stay away from the Board, saying it is to avoid future conflicts of interest, in case he decides to purchase more shares or all of them.