Elon Musk is now not becoming a member of the board of Twitter, the CEO of the social media firm mentioned late Sunday, in a reversal lower than every week after asserting the Tesla chief can be appointed.
Musk was named to hitch the Twitter board after shopping for a serious stake within the agency and turning into its largest shareholder.
“Elon has determined to not be a part of our board,” Twitter CEO Parag Agrawal tweeted.
“Elon’s appointment to the board was to develop into formally efficient 4/9, however Elon shared that very same morning he’ll now not be becoming a member of the board,” Agrawal mentioned.
Tech billionaire Elon Musk has reversed his determination to hitch the board of Twitter, the CEO of the social media agency mentioned Photo: AFP / Brendan Smialowski
“I imagine that is for one of the best.”
Currently the world’s richest man and with greater than 80 million followers on the microblogging platform, Musk final week disclosed a purchase order of 73.5 million shares — or 9.2 % — of Twitter’s frequent inventory.
“Elon is our largest shareholder and we are going to stay open to his enter,” Agrawal added.
Billionaire tech entrepreneur Musk is a frequent Twitter person, recurrently mixing in inflammatory and controversial statements about points or different public figures with remarks which are whimsical or business-focused.
He has additionally sparred repeatedly with federal securities regulators, who cracked down on his social media use after a purported effort to take Tesla personal in 2018 fell aside.