Elon Musk is in the news again – but then he always is. Musk has had a turbulent relationship with Twitter and much like a friends-into-lovers twist in the tale; the man has now bought into the company. His 9.2% stake in Twitter is valued at $3 billion. This would make him a board member till 2024 but it now seems as though Elon Musk will not be joining the Twitter board.
The stake of Jack Dorsey, co-founder and former Twitter CEO is just over 2%. This puts Musk’s 9.2% into perspective. He is now the biggest shareholder of Twitter.
Musk tweeted that he was looking forward to working with Parag and the Twitter board and making ‘improvements to Twitter’ – like an Edit Button, one wonders.
Musk seemed pretty excited about joining the board and he even made this tweet about how it was going to be ‘lit’, clearly self-referencing the time when he had ‘lit' up a joint on live TV.
…Were thought he would be a square peg in a round hole; not a good fit at TWitter.
People had their own ideas about how things would change at Twitter.
Musk then suggested that the Twitter headquarters should be turned into a homeless shelter since “no one shows up anyway.” Most agreed with him and the tweet got over 16 K replies. However this tweet is now deleted.
People wondered what was going on; whether this was something of a hostile takeover and whether or not Agrawal was happy about Musk being a part of the company at all
Then, out of the blue came this announcement – a tweet from Agrawal that Musk would not be joining the board. He added a note with the line “I believe this is for the best”.
Ever since news broke about Musk buying a stake in Twitter, he had made many suggestions about the company.
Did the deal fall through? What’s with all these conflicting signals coming from the powers that be?
And then he deleted the emoji tweet
Perhaps Musk’s plans were too grandiose/radical?
Maybe Musk is feeling the pressure? There are some reports that he failed some background checks required to join the board, which is why he will not be joining.
So it’s been a turbulent week with Elon Musk becoming the biggest shareholder in Twitter, suggesting sweeping changes and then saying that he would not be joining the board. Something tells me we’ve not heard the last of the Elon Musk-Twitter saga.
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