Elon Musk, the CEO of Tesla and SpaceX and one of the world's wealthiest individuals, has decided to abandon the idea of joining Twitter's board of directors after purchasing a stake in the company last week. The social network's CEO, Parag Agrawal, tweeted on Monday, "Elon Musk has decided not to join our board."
In a message directed to Twitter employees, Agrawal explained that Musk's joining the board was supposed to officially take effect on April 9, but he informed us this morning that he would not be joining the board, according to AFP. He added, "We have always valued and will continue to value the participation of our shareholders, whether they are board members or not. Elon is our largest shareholder, and we will remain open to his participation."
Earlier in April, Musk announced he had acquired a 9.2% stake in the social media platform Twitter, making him the largest shareholder in the company. In the document sent to the Securities and Exchange Commission, he stated that his involvement was "passive," indicating he does not intend to influence major strategic decisions at Twitter.
Notably, Musk is highly active on Twitter, tweeting nearly every day to his approximately 80.5 million followers. Since announcing his stake in the network, Musk has continued to provoke, as noted by AFP. The French agency reported that Musk particularly conducted a poll on his account asking Twitter users if they wished to see the addition of an "edit" button to correct tweets after they have been posted.
About 4.4 million accounts participated in the vote, with nearly 73% responding "yes." The platform later announced it was testing this feature, which many users have requested for years. On Saturday, Musk provocatively questioned whether Twitter was on the verge of "dying" due to the presence of many accounts with millions of followers that are inactive.
The Washington Post reported that many employees expressed concern about Musk joining Twitter, particularly considering that the values of the world's richest man do not align with the professional culture of the social network.
