Update: On Monday, April 11, it emerged that Musk had filed an amended Twitter holdings report with the SEC, per Newsweek, that says he “may express his views to the Board and/or members of the Issuer’s management team and/or the public through social media or other channels with respect to the Issuer’s business, products and service offerings.”
Elon Musk, Twitter’s largest shareholder, will not join the social media giant’s board of directors after all, Twitter CEO Parag Agrawal said on Sunday night.
“Elon’s appointment to the board was to become officially effective 4/9, but Elon shared that same morning he will no longer be joining the board,” Agrawal tweeted. “I believe this is for the best.”
Musk — currently the world’s richest individual — disclosed that he bought a 9.2% stake in Twitter earlier this month, making him the largest shareholder in the social media company. The purchase earned him a seat on the board and speculation has been rife what changes he might bring to the social media platform, where he is a constant presence.
Since the investment, Musk has been tweeting furiously, lobbing ideas and soliciting opinions via polls — including one on Saturday asking if Twitter’s headquarters should be turned into a “homeless shelter since no one shows up anyway.”
In the days since he invested, Twitter announced it will (finally) add an edit button. Some experts say his involvement may impact free speech and content moderation policies on the platform. How he will make his influence felt while declining a seat on the board remains to be seen.