Elon Musk has changed his mind to join the board of Twitter after casually spending $3 billion to own 9% of it as a “passive” investment.
Elon Musk recently became the largest Twitter stakeholder spending a casual $3 billion to own 9.2% of the social media echo chamber. This led to the announcement that he would be joining the board. Seems logical.
Twitter CEO Parag Agrawal initially said that he had been talking to Musk for “a few weeks” before the announcement took the internet by storm. However, it seems like Elon won’t be as involved as everyone thinks.
Following on from some unusual tweets from Elon talking about how dead Twitter is to his 81.4 million followers, it looks like he won’t be joining the board due to a sudden change in heart.
That wasn’t the only bizarre thing that he tweeted. Following this, Elon asked if Twitter should turn its headquarters in San Francisco into a shelter for the homeless in the area. These are all bizarre statements to make when you’ve just invested $3 billion into the company.
Most of these “top” accounts tweet rarely and post very little content.
Is Twitter dying? https://t.co/lj9rRXfDHE
— Elon Musk (@elonmusk) April 9, 2022
Agrawal tweeted out: “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,“.
Agrawal continued: “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.”
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
Elon’s internet habits have always been unusual. There is a fine line between being an internet troll or someone just speaking nonsense, and Musk walks this line frequently.
Reading the statement from Agrawal, it’s a little confusing about the context behind the change. It mentions that Elon would have to “act in the best interests of the company and all our shareholders,“.
We don’t see that as something Elon could do. Time will tell.
