Elon Musk not joining Twitter board. Billionaire's surprise move triggers reaction, drives away Monday blues

After becoming Twitter’s largest stakeholder with a 9.2 per cent stake, the most plausible next move would be to become a board member of the company. For Elon Musk that is not the case. The Tesla and SpaceX chief has refused to join Twitter’s board.

Twitter’s CEO, Parag Agrawal has announced that Musk, the biggest shareholder of the social media company, will not be joining its board. The American billionaire was offered the board seat on Tuesday with his appointment being effective from Saturday.

Agrawal in a tweet announced Musk’s decision to not join the board. The Twitter CEO shared a brief that he sent to the company. Elon Musk who is extremely vocal on Twitter has not yet commented on his decision. Even Twitter CEO to0 has refrained from revealing the reason behind musk’s move.


"The 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. We 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."
Agrawal went on to say that the company had announced that it will appoint Musk on Tuesday to its board following a background check and formal acceptance.

"We announced on Tuesday that Elon would be appointed to the board contingent on a background check and formal acceptance. Elon's 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. I believe this is for the best. We 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," wrote Agrawal in his note.

Musk’s announcement about his stake and the later developments have all kept netizens on the edge. The latest report that Musk won't be joining the Twitter board came as a surprise to many and many turned to channelise their astonishment into humour on the platform. While many hailed him as a hero, many were unaffected. There were also hilarious takes on how the billionaire may have failed background checks.
Twitter was flooded with memes when Musk announced his 9.2 per cent stake in the company a few days ago.