Elon Musk declines invite to join Twitter board; get the popcorn, Twitter memo kicks off fun!

A surprising announcement from Twitter CEO Parag Agrawal may soon rekindle the interests of those hoping for a major shakeup at the social media giant as late Sunday it was reported that billionaire entrepreneur Elon Musk “has decided not to join” the board.

After acquiring a 9.2 percent stake in the company, the process had begun for the company’s largest shareholder to accept a seat on the board of directors. Publicly, Twitter boasted their excitement about the new arrangement.

However, behind the scenes, work was being done to limit Musk’s reach. It was reported that the terms of joining the board included an investment cap barring the billionaire from owning more than 14.9 percent of company stock. Many believe that handicap is the reason behind the decision Agrawal posted Sunday.

“Team, Elon Musk has decided not to join our board. Here’s what I can share about what happened,” Agrawal wrote. “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,” like limits to his investment opportunities.

Citing the best interests of the company, Agrawal went on, “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,” he concluded.

Speculation swirled that the numerous proposals that Musk had openly discussed like turning Twitter’s San Francisco headquarters into a homeless shelter and creating an “edit” feature on the platform were already causing derision. The biggest concern seemed to come from employees at the company who were worried about Musk’s push for free speech and an end to censorship.

Though no statements have been released by Musk pertaining to the matter yet, a since-deleted tweet was offered by the investor with a smiling emoji that had a hand over its mouth. The Daily Mail reported it to indicate “an expression of rapture, a smirk, a shy smile, or indicating happiness.”

The increased share price on Musk’s 9.2 percent holdings gave an earnings value of around $1 billion. While the anticipation is he backed out of a board seat to be able to invest further into the social media company, the market reaction to the news may indicate the next steps he will take.

In answer to New York Focus Managing Editor Peter Sterne’s query, Musk should be able to purchase “as much of Twitter’s outstanding stock as he wants,” and driving the value up with big moves may have been his objective all along. As for the long run, many predict he may be heading toward a hostile takeover.


Please help us! If you are fed up with letting radical big tech execs, phony fact-checkers, tyrannical liberals and a lying mainstream media have unprecedented power over your news please consider making a donation to BPR to help us fight them. Now is the time. Truth has never been more critical!

Success! Thank you for donating. Please share BPR content to help combat the lies.
Kevin Haggerty


We have no tolerance for comments containing violence, racism, profanity, vulgarity, doxing, or discourteous behavior. If a comment is spam, instead of replying to it please click the ∨ icon below and to the right of that comment. Thank you for partnering with us to maintain fruitful conversation.

PLEASE JOIN OUR NEW COMMENT SYSTEM! We love hearing from our readers and invite you to join us for feedback and great conversation. If you've commented with us before, we'll need you to re-input your email address for this. The public will not see it and we do not share it.

Latest Articles