• M

    Max E.

    Musk Resigns From Twitter Board of Directors

    Elon Musk and Twitter

    World-famous American entrepreneur Elon Musk, who previously acquired a 9.2% stake in Twitter worth $2.89 billion, steps down from his seat on Twitter's board of directors. 

    This was announced by Twitter CEO Parag Agrawal. According to him, the company was interested in giving Musk a seat on the board of directors and had multiple discussions with the businessman himself. On April 5, Musk said that he was looking forward to being able to start working as a member of the board of directors. On April 6, Musk's inclusion on the board was officially announced. However, on April 10, the entrepreneur resigned from the post.

    Twitter management said they were optimistic about the decision. The company emphasized contributions made by shareholders, regardless of their membership in the board of directors.

    According to the SEC, the 73.48 million common shares of Twitter, which Musk purchased on March 14, was equal to a 9.2% stake in the company. Since Musk owns the largest stake in Twitter, the company will be open to his offers, company’s executives noted.

    Musk has not yet commented on the issue. Over the past weekend, he not only proposed providing all Twitter Blue subscribers with automatic verification, but also turning the social network's headquarters into a homeless shelter. Jeff Bezos, head and founder of Amazon, shared his experience of successfully transforming office space into a homeless shelter with Elon Musk. A poll conducted on Twitter showed that 91% of respondents support the idea.

    Previously, Elon Musk repeatedly complained about the infringement of freedom of speech on Twitter. On March 25, he conducted a poll among his Twitter followers on whether the service adheres to the principles of free speech. Over 70.4% of the respondents said no. Interestingly enough, Musk also discussed the possibility of creating his own social network with little censorship and maximum freedom of speech.

    In February, Musk accused the US authorities of trying to limit his freedom of speech due to his criticism of the government. According to the entrepreneur, the "endless" investigation against him and Tesla by the US Securities and Exchange Commission is aimed at restricting the billionaire's right to free speech.

    SHARE