Elon Musk will not bring together the board of conductor for Twitter after all , according to Twitter CEO Parag Agrawal , who made the announcement in a tweet overnight . Musk , who lately buy a 9.2 % stake in the company , make him the tumid single shareholder , was scheduled to join the board on Saturday but settle to pull out at the last minute .
“ The Board and I had many word about Elon joining the board , and with Elon forthwith , ” Agrawal tweeted at 11:13 p.m. ET onSunday .
“ We were excited to get together and clear about the endangerment . We also believed that having Elon as a fiduciary of the party where he , like all board members , has to represent in the best interests of the company and all our shareholder , was the dear path onward . The board offered him a seat , ” Agrawal continued .
File photo of Elon Musk (right) with socialite Ghislaine Maxwell (left) on 30 November 2024 in West Hollywood, California.Photo: Kevin Mazur/VF14/WireImage (Getty Images)
But something clearly went wrong between this preceding Tuesday , when Musk was offered a seat , and Saturday , the day he was think to take up his fresh role on Twitter ’s panel .
“ We announced on Tuesday that Elon would be appointed to the Board contingent on a setting check mark and conventional adoption . Elon ’s appointee to the board was to become officially effective 4/9 , but Elon shared that morning that he will no longer be joining the card . I believe this is for the good , ” Agrawal tweeted .
“ We have and will always value input signal from our shareholders whether they are on our Board or not . Elon is our big shareholder and we will remain open to his remark , ” Agrawal continued .
Hours later on , Musk liked a tweet that read , “ Let me break this down for you : Elon became largest shareholder for free delivery . Elon was told to play dainty and not speak freely . ”
Musk , who ’s the wealthiest person in the public with a final worth of around $ 274 billion , paid about $ 2.9 billion to gain 9.2 % of Twitter ’s usable gillyflower . But , accord to a letter see April 4 , 2022 , Musk would have been forbidden from bribe more than 14.9 % of the ship’s company ’s common pedigree if he had assumed his position on the board . That stipulation has led plenty of people on social media to speculate that perhaps Musk wants to grease one’s palms a larger share of the caller .
One affair that ’s not mentioned in Agrawal ’s note , but could very well have played a role in Musk ’s decision not to join the board , is the arguing surrounding Musk ’s accomplishment of the stock and his bankruptcy to right away account his leverage to fiscal regulator . Musk was 11 days late to denote his purchase to the SEC , harmonise to TheWashington Post — a move that in all likelihood earned him a profits of about $ 156 million . Musk could face a amercement , though it will be tiny equate with the billionaire ’s full riches .
Musk had spent the week advise he ’d do a major shake - up at Twitter , heavily suggesting he ’d impart an edit clit , something that many exploiter have called for , yet has the potential to stimulate topsy-turvydom on the political platform . Musk also ask on April 9 , the same day he grow down the pass to join the board , whether Twitter was “ pass , ” an singular interrogation for a man who supposedly has a financial pursuit in seeing the social media site succeed .
Countless conservative activists have also asked Musk to re - instate citizenry who ’ve been banned from Twitter for breaking the internet site ’s rules , most notably former chairman Donald Trump , who was banned from the social medium platform after stir up the insurrection on January 6 , 2021 that seek to tump over the presidential election .
Agrawal ended his note Sunday Nox by attempt to sound optimistic about the society ’s route ahead , something that Twitter employee worry about give Musk ’s suggested meddling with the ship’s company — including a recent joke poll about change the name from Twitter to Titter . Musk is 50 years erstwhile , it should be noted .
“ There will be distraction out front , but our goals and priorities persist unchanged . The conclusion we make and how we execute is in our hands , no one else ’s , ” Agrawal nip .
“ Let ’s tune out the noise , and stay focussed on the work and what we ’re build . ”
Daily Newsletter
Get the good technical school , science , and cultivation news in your inbox day by day .
news program from the future , render to your present .
You May Also Like
