Twitter CEO Parag Agrawal recently announced that SpaceX Founder and CEO Elon Musk will not be joining the social platform’s board of directors. Previously, Agrawal had confirmed that Musk would be appointed to the company’s board after he purchased 9.2% of the company’s shares. However, Musk has since then changed his plans.
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— Parag Agrawal (@paraga) April 11, 2022
Joining the board of Tesla would have prevented Musk from owning more than 14.9% of the company. Elon currently owns 20% of Twitter, making him one of the largest shareholders in the company.
Musk had tweeted about his plans for the company before. He posted a poll asking users what they think about an edit feature for their tweets, and only a day later the long-awaited feature was rolled out.
There has been no comment from Musk about his decision.