SAN FRANCISCO: Elon Musk is now not becoming a member of the board of Twitter, the CEO of the social media firm stated late Sunday (Apr 10), in a reversal lower than every week after asserting the Tesla chief could be appointed.
Musk was named to affix the Twitter board after shopping for a serious stake within the agency and turning into its largest shareholder.
“Elon has determined to not be part of our board,” Twitter CEO Parag Agrawal tweeted.
“Elon’s appointment to the board was to develop into formally efficient Apr 9, however Elon shared that very same morning he’ll now not be becoming a member of the board,” Agrawal stated.
“I imagine that is for the very best.”
At present 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 per cent – of Twitter’s frequent inventory.
“Elon is our greatest shareholder and we are going to stay open to his enter,” Agrawal added.
In an obvious response to the information, Musk tweeted a face with hand over mouth emoji, with out another remark.
The billionaire tech entrepreneur is a frequent Twitter consumer, commonly mixing in inflammatory and controversial statements about points or different public figures with remarks which might be 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 non-public in 2018 fell aside.