Tesla CEO Elon Musk has rejected the offer to join the Twitter board of directors after becoming the company’s largest shareholder.
We and the rest of the tech world had wrongly assumed that Elon Musk would want more than a passive role at Twitter after his large buy-in.
It turns out that he is not interested in being in charge. According to the social media company’s CEO Parag Agrawal, the board had invited the tech billionaire, and he had refused.
There was no reason given for his refusal, but the internal memo that Parag shared hinted that the board would be open to Musk’s contribution in an unofficial capacity.
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
Also read:
– Elon Musk: ‘Everyone who signs up for Twitter Blue’ subscription service should get verification check
– Google Pixel 6 and 6 Pro users continue to face wireless charging issues
– What is Twitter Blue and how is it different from the regular thing?
While he may not be a board member, the richest man in the world keeps sharing his opinion publicly on features that Twitter should have. Besides mentioning the edit button, he also tried to sell the $3 subscription service, Twitter Blue, to other users.
Many industry analysts believe that Musk rejected the board seat because board members are restricted from buying more than 14.9% of the company’s stock. By staying away from the board, he could still launch a takeover by buying more and more shares.
Therefore, a takeover is still on the table this way.
However, there are other speculations that Musk rejected the seat because he was trying to avoid any ‘background checks’ and what they could find.
For your daily dose of tech, lifestyle, and trending content, make sure to follow Plat4om on Twitter @Plat4omLive, on Instagram @Plat4om, on LinkedIn at Plat4om, and on Facebook at Plat4om. You can also email us at info@techtalkwithtdafrica.com and join our channel on Telegram at Plat4om. Finally, don’t forget to subscribe to OUR YOUTUBE CHANNEL.
