According to Parag Agrawal, who made the announcement overnight, Musk won't join the board of directors. Musk, who recently purchased a 9.2% stake in the company, was scheduled to join the board on Saturday but decided to pull out at the last minute. The Board and I had a lot of discussions about joining the board, and with Elon directly. On Sunday. We were clear about the risks. The best path forward was to have the board of directors act in the best interests of the company and all shareholders, and that's what we believe we have with Elon as a fiduciary of the company. The board offered him a seat. The day Musk was supposed to assume his new role on the board was ruined by something. On Tuesday, we announced that the Board would be filled with the help of a background check and formal acceptance. The appointment of Elon to the board was to become effective on 4/9, but he will not be joining the board. I think this is for the best. Don't miss an event while driving. The car insurance saver comes with a Sony Starvis sensor and an F1.6 7G lens that allow you to record crystal clear video during the day and night.
We value input from our shareholders whether they are on the Board or not. We will remain open to his input, since he is our biggest shareholder.
Musk, who is the wealthiest person in the world with a net worth of $274 billion, paid about $2.9 billion to gain 9.2% of the available stock. If Musk had been on the board, he would have been forbidden from buying more than 14.9% of the company's common stock. Many people on social media think that Musk wants to buy a larger share of the company.
The controversy surrounding Musk's acquisition of the stock and his failure to join the board could have played a role in Musk's decision not to join the board. According to the Washington Post, Musk's late announcement to the SEC likely earned him a profit of about $150 million. It will be small compared to the billionaire's total wealth.
Musk had spent the week suggesting that he would cause a major shake-up at the micro-blogging site, and that he would add an edit button, something that many users have called for, yet has the potential to cause chaos on the platform. On the day he turned down the offer to join the board, Musk asked if the social media site was dying, an odd question for a man who supposedly has a financial interest in seeing the site succeed.
Many conservative activists have asked Musk to re-instate people who have been banned from the social media platform for breaking its rules, most notably former president Donald Trump, who was banned from the platform after inciting the insurrection on January 6, 2021.
A recent joke poll about changing the name of the company to Titter is something that employees of the company worry about given Musk's suggested interference. It should be noted that Musk is 50 years old.
Our goals and priorities remain the same. The decisions we make and how we execute are in our own hands.
Let's tun out the noise and stay focused on the work.
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