Twitter CEO Parag Agrawal has revealed that Tesla CEO Elon Musk will no longer be joining the social media platform’s board.
Musk became Twitter’s largest shareholder following his 9.2% purchase of the company and was expected to join the social media platform’s board. However, Agrawal now says Musk has decided against taking a seat.
Had he joined the board, Musk would have been barred from owning more than 14.9% of the company.
After the initial announcement, Musk brought forward various suggestions on Twitter. However, as is customary, it was uncertain whether Musk was being facetious in these proposals.
Among them included the long-desired edit feature, which Twitter has since announced it is working on. Musk also conducted a poll on the platform asking whether Twitter’s headquarters in San Francisco should be turned into a homeless shelter “since no one shows up anyway.”
“Elon’s appointment to the board was to become officially effective 4/9, but Elon shared that same day that he will no longer be joining the board. I believe this is for the best,” said Agrawal.
“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.”