Twitter CEO announces Elon Musk won\u2019t join board despite $3 billion investment Twitter \/ Wikimedia CommonsLess than a week after Twitter CEO Parag Agrawal announced Elon Musk was joining the board following a $3 billion investment in the company, he revealed Musk had changed his mind. On April 5, Musk bought 73.5 million shares in Twitter, estimated to be worth around $3 billion, making him the largest shareholder in the company. Shortly after, he announced plans to join the board and vowed to make some big changes, like adding an edit button. Though just when it looked like things were moving forward, Twitter CEO Parag Agrawal has now revealed Musk reversed his decision. However, they will still \u201cremain open to his input\u201d as the largest shareholder. \u201cElon Musk has decided not to join our board,\u201d said Agrawal in an April 10 announcement. \u201cThe Board and I had many discussions about Elon joining the board and with Elon directly. We were excited to collaborate and clear about the risks. \u201cWe also 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. The board offered him a seat.\u201d However, after announcing he would be appointed to the board following a background check and formal acceptance that was expected to be completed on April 9, Musk informed Agrawal he no longer wanted to join. \u201cI believe this is for the best,\u201d added Agrawal. \u201cWe have and will always value input from our shareholders whether they are on our board or not. Elon is our biggest shareholder, and we will remain open to his input.\u201d Elon has decided not to join our board. I sent a brief note to the company, sharing with you all here. pic.twitter.com\/lfrXACavvk \u2014 Parag Agrawal (@paraga) April 11, 2022 In typical Elon Musk fashion, the enigmatic billionaire reacted to the news by posting a laughing emoji on Twitter, leading some to believe he wasn\u2019t serious about becoming a board member of the platform in the first place. Either way, it doesn\u2019t change the fact that Musk\u2019s investment in Twitter is very real, and as Agrawal said, the company will still be open to his input, as they are with all shareholders, regardless of whether he\u2019s on the board.<\/p>\n","protected":false},"excerpt":{"rendered":"
Twitter CEO announces Elon Musk won\u2019t join board despite $3 billion investment Twitter \/ Wikimedia CommonsLess than a week after Twitter CEO Parag Agrawal announced Elon Musk was joining the board following a $3 billion investment in the company, he revealed Musk had changed his mind. On April 5, Musk bought 73.5 million shares in […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-62925","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/dejan.au\/index.php\/wp-json\/wp\/v2\/posts\/62925","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dejan.au\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dejan.au\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dejan.au\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dejan.au\/index.php\/wp-json\/wp\/v2\/comments?post=62925"}],"version-history":[{"count":0,"href":"https:\/\/dejan.au\/index.php\/wp-json\/wp\/v2\/posts\/62925\/revisions"}],"wp:attachment":[{"href":"https:\/\/dejan.au\/index.php\/wp-json\/wp\/v2\/media?parent=62925"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dejan.au\/index.php\/wp-json\/wp\/v2\/categories?post=62925"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dejan.au\/index.php\/wp-json\/wp\/v2\/tags?post=62925"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}