The Twitter/Elon saga continues and there’s been a big, bold change.
Where we left off was that Elon had the highest shares at 9.2% and Twitter invited him to join the board of directors.
Elon accepted the invite and everything seemed rosy.
But all of that has changed.
Out of nowhere and at the last minute, Elon declined the invite to join Twitter’s board of directors, sparking a lot of chatter.
Folks on the left who think Elon is a “red-pilled Nazi,” are celebrating, thinking Elon bit off more than he could chew and is slinking back into his hole.
But the reality is probably something much, much different…
It turns out that if Elon joined the board, he’d be limited on the percentage of stock he can own.
He wouldn’t be able to go higher than 14.9%.
Many speculate that Elon declined to join the board because he’s planning a “hostile takeover” of Twitter.com.
NEW – Tesla CEO Elon Musk suddenly declines seat on Twitter’s board, opening the door to hostile takeover.https://t.co/05A1wCnj78
— Disclose.tv (@disclosetv) April 11, 2022
Daily Mail is reporting that Twitter stock fell 8 percent in premarket trading Monday after the social media giant revealed majority shareholder Elon Musk had refused his seat on the company’s board of directors.
Musk, who disclosed a 9.2 percent stake in Twitter just a few days ago, was offered a board seat on Tuesday, and his appointment was to become effective on Saturday. But Chief Executive Parag Agrawal announced Sunday evening that the Tesla CEO had decided to decline.
‘Elon shared that same morning that he will no longer be joining the board’, Agrawal said on Twitter, adding that he thought it was ‘for the best’.
The usually vocal Musk, 50, has not commented on his decision but early Monday morning he tweeted an emoji of a smiling face, with a hand over its mouth – supposedly an expression of rapture, a smirk, a shy smile, or indicating happiness. He then deleted it.
Several Twitter employees posted their reactions to Agrawal’s announcement, seemingly agitated by the roller coaster surrounding Musk’s involvement in the company.
‘The drama that keeps on giving,’ a Twitter staff researcher shared.
Here’s the snarky statement from Twitter’s new CEO:
“We announced on Tuesday that Elon would be appointed to the Board contingent on a background check and formal acceptance,” Agrawal continued. “Elon’s appointment to the board was to become officially effective 4/9, 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.”
“There will be distractions ahead, but our goals and priorities remain unchanged,” the statement concluded. “The decisions we make and how we execute is in our hands, no one else’s. Let’s tune out the noise, and stay focused on the work and what we’re building.”
Time will tell what Elon plans to do.
The left thinks he got cold feet, and the right thinks he’s about to make a bold, life-changing move.
I don’t think Elon spent billions just to be a “silent partner” on Twitter.
Grab your popcorn, it’s going to get interesting.
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