Elon Musk has declined to join Twitter’s Board, although he remains its largest shareholder. Musk joined Twitter’s Board last week, and the billionaire has many ideas for the microblogging service. He also suggested converting Twitter’s San Francisco HQ into a homeless shelter “Nobody comes up (to work). Amazon CEO Jeff Bezos approves.
“Or do a portion,” Bezos offered in response to Musk’s now-deleted Twitter HQ message. It works well and encourages staff to volunteer. Bezos also praised the company’s downtown Seattle homeless shelter.
Musk also proposed that Twitter consider removing adverts and lowering the membership fee for blue users. However, despite being Musk’s largest shareholder, Twitter’s CEO implied that the firm would not make changes merely because Musk proposed them. In a tweet earlier Monday, Agrawal said, “Distractions will come, but our objectives and priorities remain. Nobody else controls our choices or actions “.
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Agarwal announced Musk’s resignation from the Board. “Elon Musk has opted out of our Board. Here’s what I can tell you about it. The Board and I spoke a lot about Elon joining the Board. Excited to work, we discussed the hazards. Elon as a business fiduciary, required to act in the firm’s best interest and that of all our shareholders, was also our preferred course ahead. “The board gave him a seat,” he tweeted.
On the morning of April 9, 2022, Elon announced that he would no longer be joining the Board. I think it’s best. We have always valued shareholder feedback, whether they are on our Board or not. Agrawal noted that Elon is the company’s largest shareholder.
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Last week, Musk bought a 9.2 per cent stake in Twitter, making him the company’s most significant stakeholder.
