Tesla CEO Won’t Be Joining The Twitter Board: Report

Elon Musk, as the Tesla CEO, won’t be joining the Twitter board as the CEO of the social media platform Parag Agarwal announced so let’s read more today in our latest cryptocurrency news.

The Tesla CEO won’t be joining the Twitter board according to the statement published by Parag Agarwal:

“Elon’s appointment to the Board was to become officially effective April 9, but Elon shared that same morning that he will no longer be joining the Board. 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.”

Yes, should be proportionate to affordability & in local currency

— Elon Musk (@elonmusk) April 10, 2022

Agarwal added that today’s news only represents a turnaround from last week’s announcement while he was excited to share that Twitter will be appointing Elon Musk to the board. Musk who hasn’t announced the u-Turn said that he was looking ahead to working with Parag and Twitter’s board to make significant improvements to Twitter in the upcoming months. Just days before Musk was announced as a new board member, the Tesla and SpaceX CEO purchased a 9.2% stake in the social media platform.

According to the SEC filing, Musk purchased 73,486,938 shares of TWTR stocks trading at $39.31 and brought his total share purchase to over $2.8 billion. The purchase came hot off the heels of the survey that he conducted:

“Free speech is essential to a functioning democracy. Do you believe Twitter rigorously adheres to this principle?”

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

Over two million votes were cast and up to 70% of the respondents believe that Twitter didn’t adhere to the principles of free speech. When asked to improve Twitter’s verification system, Musk described crypto scam bots as a single most problem on Twitter. On the subject of Twitter verification, Musk suggested that everyone that will sign up for Twitter Blue whcih will be a $3 monthly subscription and they should get an authentication mark. He added later that it could even be an option to pay in DOGE. However, despite the speculation around DOgecoin, the meme crypto has barely moved and registered $0.14 today which is the same price as it was when Musk announced his Twitter foray.