Billionaire Elon Musk declined to join the Twitter board

Twitter has changed its tune.. this comes after last week’s announcement that Tesla founder and CEO Elon Musk will be joining the board of Twitter after he bought the majority stake in the company. 

The social media giant’s CEO Parag Agrawal tweeted over the weekend that Musk declined to join the board of Twitter. 

Agrawal tweeted, “We announced on Tuesday that Elon would be appointed to the Board contingent on a background check and formal acceptance. Elon’s appointment to the board was to become officially effective 4/9, but Elon shared that same morning that he will no longer be joining the board.” 

“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,” he added. 

“The Board and I had many discussions about Elon joining the board, and with Elon directly,” Agrawal said in a tweet Sunday night. 

“We were excited to collaborate and clear about the risks. We also believed that having Elon as a fiduciary of the company where he, like all board members, has to act in the best interests of the company and all our shareholders, was the best path forward.” 

One could argue that maybe Tesla and other companies that Musk owns are keeping him busy to add new projects. Now, the jury is still out on what would happen between Musk and the company’s board.  

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