Twitter’s top shareholder Elon Musk decides not to join board April 11, 2022 Elon Musk, Twitter’s largest contributor, has decided not to join the board of directors<br /> April 11, 2022 Creation time: 09:37 AM Last update: 09:37 AM Views: 90 San Francisco, April 11 (BUS): Elon Musk, Twitter’s largest contributor, has decided not to join its board, CEO Parag Agrawal said late Sunday. Musk, who calls himself an absolute freedom of expression and criticizes Twitter, disclosed a 9.1% stake on April 4, and said he plans to make major improvements to the social media platform. His appointment to the board of directors would have taken effect on Saturday and would have prevented him from being a beneficial owner of more than 14.9% of the common stock, Reuters reports. “Elon shared the same morning that he will no longer join the Board of Directors,” Agrawal said in a Twitter note. “I think this is the best. We have and will always appreciate input from our shareholders whether they are board members or not. Elon is our largest shareholder and we will remain open to his contribution,” Agrawal said. Musk limited his response to a face with a mouth emoji on Twitter. Tesla did not immediately respond to an email sent to the company seeking comment from Musk. Sources familiar with the company told Reuters that news of Musk taking a seat on the board of directors has caused some Twitter employees to panic about the future of the social media company’s ability to edit content. Before taking a stake, Musk conducted a Twitter poll asking users if they thought Twitter adheres to the principle of free speech. A day after becoming the largest contributor, he launched another survey asking users if they wanted an edit button, a long-awaited feature the social media platform is working on. The Tesla boss also asked users in a poll whether Twitter’s headquarters should be converted into a homeless shelter, a plan supported by Amazon.com founder Jeff Bezos. On Saturday, he proposed changes to Twitter Blue’s premium subscription service, including lowering its price, banning ads, and giving the option to pay in dogecoin cryptocurrency. Shares of Twitter, which rose 27% on April 4 after Musk disclosed his stake, have lost 7.5% since then through Friday’s close. “There will be distractions in the future but our goals and priorities have not changed,” Agrawal said in his note issued on Sunday. “Let’s tune in to the noise, and focus on the business and what we’re building.” Source link Related READ MORE Isa Cultural Center Director receives Board of Trustees Deputy Chairman of Emirates Centre for Strategic Studies and Research
April 11, 2022 Creation time: 09:37 AM Last update: 09:37 AM Views: 90 San Francisco, April 11 (BUS): Elon Musk, Twitter’s largest contributor, has decided not to join its board, CEO Parag Agrawal said late Sunday. Musk, who calls himself an absolute freedom of expression and criticizes Twitter, disclosed a 9.1% stake on April 4, and said he plans to make major improvements to the social media platform. His appointment to the board of directors would have taken effect on Saturday and would have prevented him from being a beneficial owner of more than 14.9% of the common stock, Reuters reports. “Elon shared the same morning that he will no longer join the Board of Directors,” Agrawal said in a Twitter note. “I think this is the best. We have and will always appreciate input from our shareholders whether they are board members or not. Elon is our largest shareholder and we will remain open to his contribution,” Agrawal said. Musk limited his response to a face with a mouth emoji on Twitter. Tesla did not immediately respond to an email sent to the company seeking comment from Musk. Sources familiar with the company told Reuters that news of Musk taking a seat on the board of directors has caused some Twitter employees to panic about the future of the social media company’s ability to edit content. Before taking a stake, Musk conducted a Twitter poll asking users if they thought Twitter adheres to the principle of free speech. A day after becoming the largest contributor, he launched another survey asking users if they wanted an edit button, a long-awaited feature the social media platform is working on. The Tesla boss also asked users in a poll whether Twitter’s headquarters should be converted into a homeless shelter, a plan supported by Amazon.com founder Jeff Bezos. On Saturday, he proposed changes to Twitter Blue’s premium subscription service, including lowering its price, banning ads, and giving the option to pay in dogecoin cryptocurrency. Shares of Twitter, which rose 27% on April 4 after Musk disclosed his stake, have lost 7.5% since then through Friday’s close. “There will be distractions in the future but our goals and priorities have not changed,” Agrawal said in his note issued on Sunday. “Let’s tune in to the noise, and focus on the business and what we’re building.”
