Elon Musk has reversed his stance, declined appointment to Twitters board morning of his induction

Just one week after announcing his stake in Twitter, Elon Musk declined to join the social media websites board of directors this Saturday. Many speculate the stipulation capping the percentage Elon is allowed to buy of Twitter stock at 14.9% was the reasoning behind declining the invitation to join the Board.

Twitter's newest CEO Parag Agrawal announced the news on his Twitter profile; that tweet will be on the second slide. In the tweet, he says, "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." Implying that Elon's concerns should've been with how he could make Twitter more money when it was pretty clear Elon intended to make Twitter a usable platform. It was initially announced that Elon would join their board, with Musk even tweeting out he was 'Excited to be working with Parag and others on the board.'

One concern that ultimately broke down negotiations was Musk's communication style on the platform, specifically polls he would run from his account, which has over 80 million followers. These polls were centered on his follower's opinions of Twitter as a platform in terms of free speech and even asked his followers if Twitter was dying because most of the top accounts in terms of followers rarely post on the social media website. Another suggestion from Musk was making the algorithm Twitter uses open source for anyone to view.

Where do you believe Elon's intentions are here? Could we possibly see a brewing feud between Musk and the other shareholders of Twitter that could Ultimately lead to musk purchasing a controlling stake in the company?


Elon Musk will not join Twitter's board

Twitter CEO Jack Dorsey has stepped down, leaving the position for current CTO Parag Agrawal.

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