Elon Musk won’t be joining Twitter’s board of directors, after all

After all, it turns out that Elon Musk will not be joining Twitter’s board of directors.

On Sunday afternoon, Twitter CEO Parag Agrawal said Musk “has decided not to join our board,” sharing a message he sent to the company about the change.

Musk was due to officially become a board member on Saturday, according to the note, and was chosen not on the same day. Agrawal said it was “for the best.”

The billionaire founder of SpaceX and CEO of Tesla had bought a 9.2% stake. to the social media giant, or 73.5 million shares, worth about $ 2.9 billion, according to a U.S. Securities and Exchange Commission filing last Monday.

Twitter later said in a regulatory presentation on Tuesday that it had signed an agreement with Musk that would give it a seat on its board, with its term expiring in 2024. Agrawal said at the time that Musk would “bring great value” to the advice.

When it became known that Musk had reversed course, he tweeted to his more than 81 million followers a single emoji, a face with a hand in his mouth, but it has since been erased.

Musk was expected to do so boosting Twitter on free speech issuesan issue that has been openly discussed, but there is no word on how or if that will change in light of his decision not to join the board.

Twitter is one of several social media platforms that try to strike a balance between free speech and censorship of content that is considered hateful, harmful, or fake. The company’s founder, Jack Dorsey, has been promoting the idea of ​​an open source media platform with few controls.

As of April 2022, Musk’s net worth of approximately $ 274 billion makes him the richest person on the planet, according to Forbes.

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