Monday, October 3, 2022

Twitter said billionaire Elon Musk is not joining its board of directors

A week after billionaire Elon Musk became Twitter largest shareholder, the social media company said that the billionaire had rejected its invitation to join its board of directors, warning of “distractions ahead.”

The intended appointment has set to take effect on Saturday. The world’s richest person would have banned from becoming a beneficial owner of more than 14.9% of Twitter’s common shares.

Because of the suddenness of Musk’s declaration, his name has still listed on Twitter’s BOD’s as of Monday morning.

A face-with-a-hand-over-the-mouth emoji was all that Musk could muster on Twitter in response to the criticism. A request for comment from the CEO of Tesla has not immediately returned by the firm.

Known as a “absolutist” when it comes to free speech. Musk said on April 4 that he had purchased a 9.1 percent interest in Twitter. He promised to make big changes to the social media network.

Rumors of a full takeover of the platform to a more active involvement in company decisions were sparked by the billionaire Elon Musk.

On Twitter, Tesla CEO billionaire Elon Musk frequently posts updates on his firm and other topics to his more than 80 million followers.

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