Owns the largest stake in Twitter, but Elon Musk refuses to join the Board of Directors of this social networking platform.
The fact that Elon Musk bought 9% of shares of the social network Twitter was still feverish, but this billionaire recently surprised the online community once again when he announced that he would not join the Board of Directors of the company. this. In early April, after being frustrated many times because Twitter “blocked his throat” making him unable to freely speak, this billionaire spent more than 3 billion USD to buy shares of this company and become the largest shareholder of this social networking platform. Owning a large stake also means that Elon Musk is getting close to taking over Twitter if he continues to buy more shares.
After buying shares and becoming the largest shareholder of the social network Twitter, many people thought that he used this as a springboard to promote his influence and gradually acquired Twitter. However, the fact that the CEO of Tesla made the decision surprised everyone. According to information, despite being the largest shareholder, Elon Musk has refused to join the Board of Directors of Twitter.
Twitter’s current CEO, Parag Agrawal, also shared this information: “Elon Musk will not be taking on any role on Twitter’s board of directors. This is his decision this morning. As corporate administrators, we have and will always value all opinions from shareholders, even if they are on the board of directors. Elon Musk is the largest shareholder and we will continue to be open and respectful of his opinions.”
Thereby, it can be seen that Elon will only observe and receive dividends like other ordinary shareholders of the company without directly participating in operating or strategic planning for the company. And of course as the largest shareholder, this billionaire can change his mind at any time he wants.
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