Elon Musk will not join the Twitter board on April 9, Twitter CEO Parag Agrawal said on Monday.
โElonโs appointment to the board was to become officially effective 4/9, but Elon shared that same morning that he will no longer be joining the board,โ Agrawal said on Twitter.
โThis, I suppose, is for the best. Whether or not our stockholders are on our Board, we have always valued their input. Elon is our largest shareholder, and we will remain open to his input, Twitter CEO added.
Elon Becomes Stakeholder of Twitter
Musk recently announced that he bought more than 9% of Twitter, making him the companyโs largest stakeholder. Musk agreed not to buy more than 14.9 percent of Teslaโs stock while on the board.
Elon Musk, the companyโs main shareholder, is an avid Twitter user. Since joining the network in 2009, he has amassed over 80 million followers and has used it to make various announcements.
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Musk Suggestion for Edit Button; Asks Users To Vote
Musk claimed on Twitter that the site does not allow enough free speech and that it should open source its algorithm. Last Monday, he asked his followers if they โwant an edit button,โ a long-standing, if polarising, feature request from many Twitter users.
The idea was so revolutionary that it upended Twitter Incโs existing system, prompting CEO Parag Agarwal to advise Twitter users to vote cautiously in the eccentric billionaireโs poll.
Around 73.6 percent of respondents said โYesโ. Soon after Muskโs poll, Twitter confirmed that it is working on a Tweet editing function. The edit button has been in development for over a year, according to the firm, and will shortly be tested with Twitter Blue subscribers.
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Elon Musk proceeded to mock Twitter two days later by promoting his outlandish plans to disrupt the way Twitter works. Elon Musk appears to be hell-bent on bringing the edit button to the microblogging service.
Musk had also teased Twitter with a parody about the edit button being added to Twitter. Muskโs first firm, Zip2, was sold to Compaq for $305 million in 1999, which led to Twitter eventually obtaining an edit button.
Users have been requesting an edit button on Twitter for years, but the microblogging service.
Musk has consistently hinted at how he wants to change Twitter, from prohibiting advertising to lowering its price.
Musk proposed modifications to the Twitter Blue premium subscription service on Saturday, including lowering the price, prohibiting advertising, and allowing users to pay in the cryptocurrency dogecoin.
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Discussion on Elon Musk Joining the Board
In a statement, Agrawal said he and the companyโs board of directors had several conversations with Elon Musk about joining the board.
According to Agrawal, he and the companyโs board of directors met with Elon Musk several times about joining the board, but the billionaire declined.
Elonโs appointment to the board was set to take effect on April 9, but he announced that he would no longer be joining the board that morning.
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