(AmericanProsperity.com) – Elon Musk, CEO of Tesla and founder of SpaceX, has become a bit of a wildcard on social media. The billionaire recently became the largest shareholder of Twitter, opening the door for the company’s CEO, Parag Agrawal, to invite Musk to join Twitter’s board. At first it seemed as though Musk would take the opportunity, but instead he turned down the board seat, leaving the future of Twitter a subject of speculation.
.@elonmusk has decided to not join Twitter's Board of Directors.
Musk's decision means he will not be under the board’s share owner restrictions. https://t.co/Xh8HJWwg8C
— MRCTV (@mrctv) April 11, 2022
Despite there not being a reasonable explanation for Musk’s denial, Agrawal claims his decision is for the best. The Twitter CEO let the company know Musk wouldn’t be joining the board, adding that the company will continue to value his input as it does all of its shareholders.
Musk isn’t an average investor, though some experts believe he may be planning some sort of hostile takeover. According to Bloomberg, the Tesla CEO owns 9.2% of the company’s stake. Perhaps Musk plans to buy even more Twitter stock. After all, being a member of the company’s board would cap off his ability to buy shares at 14.9%, according to PC Gamer. Is Musk looking to buy more than that threshold?
The billionaire has been very critical of the social media platform, having already made some suggestions in regard to the company. Does Musk have any plans for Twitter in the future, perhaps ideas no one but him knows about? If so, what are they?
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