After having bought a 9.2% stake, Tesla and SpaceX CEO Elon Musk was set on joining the board of Twitter on Saturday morning. Musk’s appointment would have begun on Saturday, and he would be welcomed into the board, after having passed “a background check and formal acceptance”. However, Elon abandoned his plans of being inducted into the board by sharing that he won’t be taking the board seat and instead went on Twitter to post a cryptic tweet, that enclosed a single emoji. The tweet was taken down just a few moments after it was posted.
Elon was posting numerous tweets and shared his ideas on how Twitter should completely alter their image as well as tear down some of their practices as well as infrastructure by asking his followers which consist of more than 81 million followers, whether Twitter is “dying” and if its headquarters should be turned to a homeless shelter, as “no one shows up anyways”.
Moreover, the tech mogul went on to even form a poll, where in which he asked his followers whether the letter “w” should be removed from the Twitter, with the only options being “yes” and “of course”.
CEO of Twitter Mr. Parag Agarwal, informed the company as well as the world via Twitter that Mr. Musk won’t be joining the board of Twitter, by posting the following tweet.
Despite this outcome, Mr. Agrawal CEO of Twitter revealed that “We have and will always value input from our shareholders whether they are on our board or not,” he added. “Elon is our biggest shareholder and we will remain open to his input.”
Elon, has the capability to buy Twitter outright. Elon Musk possesses more than four times the 2.25% shareholding of Twitter co-founder Jack Dorsey.
Shares in Twitter rose by more than 27% after Mr. Musk shareholding percentage was shared to the world.