Elon Musk Stops Joining Twitter Board

The world’s richest man announced his arrival on the social network’s board of directors on April 5, two weeks after acquiring a 9.2% stake in the company.

Elon Muskthe boss of You are here and SpaceXhas resigned from the Board of Directors of Twitter, Parag Agrawal, the social network’s general manager, announced Monday after a week of adventures between the erratic billionaire and the platform. †Elon Musk has decided not to join our board of directorsParag Agrawal tweeted.

Elon’s arrival on the board was scheduled to take effect on April 9, but Elon announced that same morning that he was no longer on the board.he explained in a message to Twitter staff, which he shared on the platform. †I believe it’s the besthe added.

We have enjoyed and will always appreciate the participation of our shareholders, whether they are on our board or not. Elon is our largest shareholder and we remain open to his participationcontinued Parag Agrawal. Immediately after the announcement, Elon Musk tweeted a giggling emoji, with no accompanying text. The richest man in the world announced in early April that he had taken a 9.2% stake in the capital of Twitter, making him the largest shareholder.

An announcement welcomed by the markets

He first specified in the document sent to the stock exchange regulator that this participation “passive”, that is, he had no intention of influencing major strategic decisions. He had also committed not to increase his stake beyond 14.9%. But the subsequent announcement of his joining Twitter’s board of directors was welcomed by the markets. Investors took it as a sign that the billionaire was finally planning to get involved in the group’s strategy.

Elon Musk is a very active user of the social network, on which he has 80.5 million subscribers. He speaks almost daily about his companies, from Tesla (electric cars) to SpaceX (aerospace), via Neuralink (brain implants), and is not afraid to joke or provoke controversy. He also uses his account a lot to poll internet users, about his Tesla stock sale or, more recently, to find out whether they believe Twitter respects freedom of speech, a question to which a majority replied.”NoThe entrepreneur has repeatedly criticized the platform on this topic, because he felt it went too far with substantive moderation.

The billionaire multiplies provocations on Twitter

Since announcing his entry into the capital, Elon Musk has multiplied the provocations. In particular, he conducted a poll to ask if Twitter users “To processto correct a tweet after posting. Nearly 4.4 million people voted and about 73% responded”YesThe platform then announced that it was testing this feature, which many users had been asking for for years.

Elon Musk wondered on Saturday whether the social network “dying“, indicating highly followed but not very active accounts.”Most of these “super” accounts rarely tweet and post little content. Is Twitter dying?he wrote, at a list of the 10 profiles with the most subscribers. In particular, he had noted that the second-placed singer Justin Bieber had only tweeted once this year.

On Sunday, he made two other suggestions:Remove the w in twitter?(with, as the answer choice, “Yes” True “secure“) and “Converting the Twitter headquarters in San Francisco into a shelter for the homeless, since no one is going there anywayMore than 90% of the 1.9 million voters said “yes”. He then proposed changes to the paid subscription for the social network Twitter Blue.

There will be distractions in the future, but our goals and priorities remain unchanged. The decisions we make and how we execute them are in our hands, and nobody else’s.said Parag Agrawal in his message to workers. According to Washington PostSeveral Twitter employees had expressed concern, particularly given that the world’s richest man’s values ​​did not align with the social network’s corporate culture.

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