Elon Musk will not join the Twitter board of directors, leaving him free to launch a potential...

[midian182]

In context: Twitter has confirmed that Elon Musk won't be joining its board of directors after all. Company CEO Parag Agrawal last week announced that the Tesla boss would sit on the board until at least 2024, but Musk has apparently turned down the seat, leaving him free to launch a potential hostile takeover.

Agrawal previously announced that Musk would be appointed to the board contingent on a background check and formal acceptance. The appointment was to become effective immediately, but Musk decided against the move.

"I believe this is for the best," wrote Agrawal. "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."

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

Musk's only response to the news was a now-deleted tweet that contained just a 'face with hand over mouth' emoji used to display coy laughter or embarrassment.

Musk's decision not to join Twitter's board of directors means he won't be limited to owning a maximum 14.9% of the company—he's already the majority shareholder, thanks to a 9.2% stake he bought on March 14. He will now be free to take a 15% or more ownership in the firm, allowing him to launch a hostile takeover.

Musk has been bombarding his 81.3 million Twitter followers with polls since his stake in the company was revealed. He questioned its policy toward freedom of speech and whether the service should have an edit button, which is in the works—though Twitter insists the decision was nothing to do with its biggest shareholder.

Musk has also suggested that everyone who signs up for the paid Twitter Blue service receive an authentication checkmark. He recently asked whether Twitter's San Francisco headquarters should be turned into a homeless shelter "since no one shows up anyway." The latter tweet, which has also been deleted, may have been tongue-in-cheek, but fellow rich-list member Jeff Bezos suggested part of the building be converted into a shelter, just as Amazon has done with its Seattle HQ.

Or do portion. Worked out great and makes it easy for employees who want to volunteer. https://t.co/r0dZWsMxWT https://t.co/NbUNl1bkJ3

— Jeff Bezos (@JeffBezos) April 10, 2022

In other Elon Musk news, the world's richest person just announced that the long-delayed Cybertruck is set to go on sale next year.

Permalink to story.

https://www.techspot.com/news/94130-elon-musk-no-longer-joining-twitter-board-directors.html

 

[Dimitriid]

It means a Musk takeover is probably inevitable, I just wonder what will take Twitter's place capturing people's attention. I bet discord could capitalize since it at least offers a modicum of user control for the time being managing communities but it's too different from mini blogging so maybe something else.

 

[George Keech]

I don't know why but Elon always gives of weird evil "genius" vibes. I don't think I would trust him to deliver milk.

 

[Hexic]

Eh, Twitter is a cesspool of ignorance and hate anyways. No matter who takes it over, it'll still be trash.

The only difference being the far-left incumbents who currently reside in this echo chamber will get pissy if anyone begins intiating policies they don't agree with.

"And nothing of value was lost."

 

[Squid Surprise]

Eh, Twitter is a cesspool of ignorance and hate anyways. No matter who takes it over, it'll still be trash.

The only difference being the far-left incumbents who currently reside in this echo chamber will get pissy if anyone begins intiating policies they don't agree with.

"And nothing of value was lost."

How are we going to find out about how Trump really won the last election?!?!

 

[sorten]

World's richest person, with the emotional maturity of a 10-year-old boy.

Musk will do what he wants to do, but his "freedom of speech issues" have nothing to do with Twitter policies. They have to do with the SEC calling him out for securities violations.

 

[julesigles]

I don't know why but Elon always gives of weird evil "genius" vibes. I don't think I would trust him to deliver milk.

As you admittedly "don't know", your post says a lot more about you than Elon. Of note - it's also a good thing it's him building all those thousands of jobs in his businesses and buying up Twitter stock than the peons on Twitter who don't know what gender actually gives milk, for example.

 

[George Keech]

As you admittedly "don't know", your post says a lot more about you than Elon. Of note - it's also a good thing it's him building all those thousands of jobs in his businesses and buying up Twitter stock than the peons on Twitter who don't know what gender actually gives milk, for example.

Think you have issues - just because someone builds jobs doesn't make them good.

 

[wiyosaya]

Musky up to his antics again - and people are falling for it.

 

[Hexic]

How are we going to find out about how Trump really won the last election?!?!

I WOULD subscribe to Trump's (or any far left or right social media network) on a really bored and rainy Sunday afternoon... Just to troll and rile everyone up before I get banned.

 

[thew118]

I have been repeatedly confused by TechSpot’s choice to describe Elon Musk as a “majority shareholder”. 9.2% is not a majority. He does not have the privileges that come with majority ownership because he is not a majority shareholder. Am I missing something?

 

[sorten]

I have been repeatedly confused by TechSpot’s choice to describe Elon Musk as a “majority shareholder”. 9.2% is not a majority. He does not have the privileges that come with majority ownership because he is not a majority shareholder. Am I missing something?

I agree. I assume it's a lost in translation issue. He's the largest shareholder, but not the majority shareholder. I guess that's what happens when a tech blog starts covering financial news for clicks.

 

[julesigles]

Think you have issues - just because someone builds jobs doesn't make them good.

They were literally your own words. You admit you don't know then proceed to suddenly know you don't trust Elon and would refuse him delivering you milk. Ummm, okay. Perhaps I've offended a "woke" person? Moving along.

 

[Squid Surprise]

They were literally your own words. You admit you don't know then proceed to suddenly know you don't trust Elon and would refuse him delivering you milk. Ummm, okay. Perhaps I've offended a "woke" person? Moving along.

So you have to have reasons for mistrusting people now... dang...

 

[julesigles]

I agree. I assume it's a lost in translation issue. He's the largest shareholder, but not the majority shareholder. I guess that's what happens when a tech blog starts covering financial news for clicks.

There are different definitions for 'majority shareholder'. One is the obvious, as mentioned - owning more than half. Consider the other. It's like in elections wherein 20 people gather votes, for example, but there are obvious leaders. They simply have the biggest piece of the pie is all. And we can know how much stock is required to have a seat on the board in Twitter's case - these are all majority shareholders. It's regressive analysis in a way - they are a majority compared to so many other stock owners who have so very little. So consider, if 100,000 people own stock in a company but 15 people own 51% of that stock we can call those 15 the majority shareholders. It's proper to do so.

 

[Beerfloat]

There are different definitions for 'majority shareholder'. One is the obvious, as mentioned - owning more than half. Consider the other. It's like in elections wherein 20 people gather votes, for example, but there are obvious leaders. They simply have the biggest piece of the pie is all. And we can know how much stock is required to have a seat on the board in Twitter's case - these are all majority shareholders. It's regressive analysis in a way - they are a majority compared to so many other stock owners who have so very little. So consider, if 100,000 people own stock in a company but 15 people own 51% of that stock we can call those 15 the majority shareholders. It's proper to do so.

You know, that's why they invented the word 'plurality'.

 

[julesigles]

You know, that's why they invented the word 'plurality'.

Some need more than a one word answer.

 

[julesigles]

So you have to have reasons for mistrusting people now... dang...

I mean, if you're the type looking to be offended by anything and everyone and blames everyone else and society for all your problems and walks around in a victimhood mentality - probably not.

 

[Aaron Fox]

I don't know why but Elon always gives of weird evil "genius" vibes. I don't think I would trust him to deliver milk.

I doubt the genius part but the evil has already been demonstrated in dramatic fashion.

He bragged that he would rescue the kids who were soon to drown in a cave disaster. He didn't. Another man did. He proceeded to libel that man in the most egregious way he could, given today's political playbook.

This is the person the world's wealthy elite have decided to give most of their ill-gotten gains to. It says what needs to be said about the morality inherent in the false meritocracy.

Demented narcissism passes itself off as moral superiority.

 

[Aaron Fox]

World's richest person, with the emotional maturity of a 10-year-old boy.

Far worse.

When I was 10 I wouldn't have libeled a hero.

Age isn't the issue. Demented narcissism is.

 

[julesigles]

Far worse.

When I was 10 I wouldn't have libeled a hero.

Age isn't the issue. Demented narcissism is.

Oh... so mean tweets are evil and dramatically so. A couple words among millions uttered are your morality bar. M'kay. I think you've spelled out your politics quite well. Fortunately for the rest of us the world doesn't operate in quite that manner - like the jury who voted unanimously against YOUR opinion.