Elon Musk, CEO of Tesla and SpaceX, declined to join the Twitter board after becoming the social media company’s largest shareholder earlier this month.
“Elon Musk decided not to join our board,” Twitter CEO Parag Aggravale said Sunday.
He was named board member on Tuesday. This is “conditional on background checks and formal admissions,” Agraval said in a statement.
The statement said his appointment would take effect Saturday, but Musk “shared the same morning that he would no longer join the council.”
“I think this is the best,” Agravali wrote. “We have and always appreciate the contribution of our shareholders, whether they are on board or not.”
Twitter will remain open for Musk’s input, Agrawal added.
Musk bought a 9.2% stake in Twitter Inc. earlier this month. He then posted a series of suggestions for the site, asking about new features and areas of interest.
On Monday he asked users if they wanted an edit button. The next day, the company announced it was testing the feature. And in a series of tweets late Saturday, it said users of the company’s Blue Premium Twitter subscription service, which costs $ 2.99 a month, should receive a verification tick.
This feature is typically available for public interest accounts that have been verified as authentic.
The billionaire is an open Twitter user who often causes controversy and even market movements in his posts on the site. In 2018, he tweeted about Tesla’s private purchase for $ 420 without securing financing, which led to the company’s share price and ultimately led to a $ 40 million SEC and order to approve it. I look forward to his future tweets. He is still tied up in court In that matter.
Source: Huffpost
