Elon Musk refused to join the Twitter board, it turned out that he spent $ 3 billion buying shares just for “fun”
Remember last week, Elon Musk made his biggest deal in 2022 (up to now). That is to spend more than $ 3 billion to buy back 9% of the shares of the social network Twitter. With the total value of Twitter shares holding, Elon Musk has become the largest shareholder of this social networking platform. In other words, the boss of SpaceX is getting very close to owning Twitter (if he continues to increase the amount of shares held).
Thought this move would be a springboard for Elon Musk to increase his influence and towards the takeover of Twitter, but Tesla’s CEO once again surprised many people with his decision. Accordingly, Elon Musk has refused to join Twitter’s board of directors even though this billionaire is the company’s largest shareholder.
Sharing about this issue, current Twitter CEO Parag Agrawal said: “Elon Musk will not be taking on any role on Twitter’s board of directors. This was his decision this morning. As corporate administrators, we have taken and will always take it very seriously. any input from shareholders, whether they are on the board of directors. Elon Musk is the largest shareholder and we will continue to make his opinions public and respectful.”.
As such, Elon will not participate in the process of operating or strategic planning for Twitter. Instead, he just stood by and watched and received dividends like any other ordinary shareholder of the company. Of course, as the largest shareholder, Elon Musk can completely change this anytime he wants.
at Blogtuan.info – Source: gamek.vn – Read the original article here
