Elon Musk no longer joining board of Twitter, CEO Parag Agrawal confirms

After much fanfare and speculation, tech billionaire Elon Musk has made a drastic decision in the days after becoming the biggest shareholder of Twitter.

In a sudden switch, it appears Elon Musk will no longer join the Twitter board following his 9.2 per cent purchase into the company’s shares.

Musk was reportedly offered a position on the board of directors under the condition he would not be allowed to acquire more than 14.9 per cent of Twitter’s stocks until his term ends in 2024. Effectively preventing a buyout, Musk could technically pursue a more agressive buy out now that he’s declined his board position.

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Elon has decided not to join our board. I sent a brief note to the company, sharing with you all here. pic.twitter.com/lfrXACavvk

— Parag Agrawal (@paraga) April 11, 2022

According to Twitter CEO Parag Agrawal, the decision was made by the Tesla and SpaceX CEO on April 9 - the day his board appointment was set to become official.

“We announced on Tuesday that Elon would be appointed to the Board contingent on a background check and formal acceptance,” Mr Agrawal wrote in a company email.

“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.”

Without any context, Musk tweeted a single emoji of a face with a hand covering its mouth, seemingly poking fun at the breaking news.

This comes as tech billionaire quizzed his Twitter followers on which updates and new features they’d like to see on the social media platform. Some of them include an ‘edit button,’ to an authentication 'checkmark' and no ads for Twitter Blue members.

Currently Twitter Blue costs Australian members $4.49 a month and gives them access to ‘reader mode,’ an undo tweet function, and access to bookmark folders.

His latest was an outlandish ploy to to convert Twitter’s San Francisco’s headquarters into a “homeless shelter since no one shows up anyway”.

Responding to his backhanded poll, 91.3 per cent of the poll’s 1,900,388 selected ‘yes’, while the remaining 8.7 per cent reported ‘no’.

The post even got a response from Amazon CEO Jeff Bezos who advised Musk to follow a “portioned” approach.

“Worked out great and makes it easy for employees who want to volunteer,” he tweeted.

Musk also responded, writing: “Great idea”.

Or do portion. Worked out great and makes it easy for employees who want to volunteer. https://t.co/r0dZWsMxWThttps://t.co/NbUNl1bkJ3

— Jeff Bezos (@JeffBezos) April 10, 2022

The subtle jab at Twitter employees come as the tech company’s workers reported a mixed-reaction to Musk’s buy in.

According to Reuters, some workers feared his appointment could loosen the platform’s “hard-won” moderation policies. Others said Musk’s history of attacking trans rights and controversial take on Covid-19 lockdowns was not aligned to Twitter’s inclusive corporate culture.

“Some people are dusting off their resumes,” one unnamed employee told Reuters. “I don’t want to work for somebody (like Musk).”

Another worker told The Washington Post that Musk’s current Twitter activity made him unsuitable to be a board member.

“Quick question: If an employee tweeted some of the things Elon tweets, they’d likely be the subject of an HR complaint”, one employee wrote in an internal Slack channel.

“Are board members held to the same standard?”

Elon Musk’s appointment to Twitter’s board hasn’t been welcomed by everyone. Picture: Justin Sullivan/ Getty Images.

In light of the outcry, Twitter’s current CEO Parag Agrawal organised an ‘ask me anything’ session with the billionaire, The Washington Post first reported.

“Following our board announcement, many of you have had different types of questions about Elon Musk, and I want to welcome you to ask those questions to him,” read an email between Mr Agrawal and Twitter’s employees.

However, it’s unknown if a similar meeting will no ahead given Musk’s reversal.