Musk relinquishes seat on Twitter’s board of directors

Elon Musk will not join the board of directors of Twitter, of which he has been the largest shareholder since last week. Twitter CEO Parag Agrawal said in a statement that he could not reveal much about the decision, but wrote: “I think it is better this way.”

Musk announced last week that he had bought about 2.5 billion euros worth of shares in the social media company, which gave him a stake of more than 9 percent. Wall Street was pleasantly surprised at the news, as the company’s stock shot up, ending the week with a strong gain.

Twitter reported on the announcement that Musk was also given a seat on the company’s board of directors. “He’s a big but critical fan, just what we need on Twitter and in the boardroom,” Agrawal said. Twitter founder Jack Dorsey also said he is “very happy that Elon is joining the board”.

Musk wrote on the medium that he “looks forward to making significant improvements with Parag and the Twitter board in the coming months.” He did not specify what major changes he had in mind.

Proposals and jokes

He did, however, release a few test balloons through the social medium in recent days. He held a poll whether users wanted to see an edit button to edit posts, spoke express his preference for a Twitter without advertising and suggested to enable payments in the cryptocurrency dogecoin.

In addition to such substantive changes, Musk also threw out some more eccentric proposals via Twitter. For example, he asked whether the ‘w’ should be removed from the company name or he proposed to move from the head office create a homeless shelter† “I’m serious about this, by the way,” emphasized Musk, known for his peculiar sense of humor.

In addition, he wondered aloud on the medium whether it was not “dying” because very few posts are made by popular accounts like those of Barack Obama, Taylor Swift and Justin Bieber. In addition, he posted a photo online in which he smokes a joint with the message that the next board meeting would be “laughing”.

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