11 Apr 2022
Twitter’s Biggest Shareholder Elon Musk Declines to Join Board
The Index Today
Elon Musk, the CEO of Tesla Inc. and Twitter Inc.’s top shareholder, has decided against joining the social media giant’s board, CEO Parag Agrawal revealed on Sunday.
According to Reuters, Musk was to have been affirmed to Twitter’s board on Saturday which would have impeded him from owning over 14.9% of common stock. This comes after the Tesla CEO unveiled a 9.1% stake in the company last week with plans to enhance and improve the company as a social media platform that enables free speech.
Twitter’s CEO Parag Agrawal said on Twitter, "Elon shared that same morning that he will no longer be joining the board." He added, "I believe this is for the best. 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."