Tesla CEO, Elon Musk has decided not to join the Twitter board after his disclosure that he owns a 9.2% ($2.9 Billion) stake in the total shares of Twitter. The world’s richest man, Elon Musk, decided to put his money where he communicates publicly often, making him the largest shareholder on Twitter. Twitter appointed Elon to its board as announced in a tweet by Twitter CEO Parag Agrawal. In his appointment tweet, he had this to say,
“I’m excited to share that we are appointing @elonmusk to our board! Through conversations with Elon in recent weeks, it became clear to us that he would bring great value to our board. He’s both a passionate believer and intense critic of the service which is exactly what we need on @twitter, and in the boardroom to make us stronger in the long term. Welcome, Elon.”
The 50-year-old technocrat added Twitter to his workload as he also manages Tesla (Net worth: $1.1 Trillion), Space X ($100 Billion), The Boring Company, and Neuralink.
Twitter is a $30 billion company and his appointment put a smile on investors’ faces as the share price increased. After Elon’s appointment, twitter took the stage to formally announce that they are working on an edit button for tweets in the Twitter Blue version. This was great news for more than 300 Million users that have been requesting it over the last 16 years Twitter has been around. It has however brought up a lot of controversies as some argue twitter users’ tweets will lack authenticity, originality, and partial accountability. Elon said he plans to bring several significant improvements to the social media platform
Twitter CEO today took heel to the social media platform to announce that Elon Musk has decided not to join the Twitter board. He also communicated that the social media company’s goals will remain unchanged and that they will remain focused and keep on working.
Elon’s refusal to join the board is highly debatable. It is interesting because Elon didn’t sign an agreement that forbids twitter board members from influencing the company’s policies. This means that he might have a say in how twitter focuses on its products and feature timeline, whether he is on the board or not. The company through its spokesperson also shared that just because he has a seat on board, he won’t receive any special treatment as they are ‘committed to impartiality’ Musk limited his response to the news with an emoticon; face with a hand over mouth,
‘🤭’
Musk runs many different polls on Twitter over different debatable cues including whether twitter adheres to the principle of free speech.
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